By otakuyassine3@gmail.com 
Abound Wealth Management trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,391 shares of the company’s stock after selling 105 shares during the period. Abound Wealth Management’s holdings in AbbVie were worth $247,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in AbbVie in the 2nd quarter valued at $26,000. Groupama Asset Managment lifted its position in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the third quarter valued at approximately $28,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in AbbVie in the third quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors.
AbbVie Stock Performance
Shares of ABBV stock opened at $176.94 on Tuesday. The stock’s 50-day moving average is $178.00 and its two-hundred day moving average is $184.61. The firm has a market cap of $312.68 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the company posted $2.95 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current year.
AbbVie Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 227.78%.
Insider Buying and Selling at AbbVie
In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on ABBV shares. UBS Group upped their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Guggenheim upped their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.
Check Out Our Latest Stock Analysis on ABBV
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn’s disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
Further Reading
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