By otakuyassine3@gmail.com 
waypoint wealth counsel lessened its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,345 shares of the company’s stock after selling 97 shares during the period. waypoint wealth counsel’s holdings in AbbVie were worth $594,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in ABBV. KBC Group NV increased its position in shares of AbbVie by 5.0% during the 4th quarter. KBC Group NV now owns 1,146,550 shares of the company’s stock valued at $203,742,000 after purchasing an additional 54,501 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in AbbVie during the fourth quarter valued at approximately $127,000. Apexium Financial LP grew its position in AbbVie by 22.5% during the fourth quarter. Apexium Financial LP now owns 3,968 shares of the company’s stock valued at $705,000 after acquiring an additional 728 shares during the last quarter. Capital Asset Advisory Services LLC raised its stake in shares of AbbVie by 2.6% during the fourth quarter. Capital Asset Advisory Services LLC now owns 18,448 shares of the company’s stock worth $3,343,000 after acquiring an additional 473 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of AbbVie by 20.6% in the 4th quarter. Blue Trust Inc. now owns 47,271 shares of the company’s stock valued at $8,400,000 after purchasing an additional 8,059 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.
Insider Buying and Selling at AbbVie
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Bank of America reissued a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Citigroup dropped their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Five 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.50.
Read Our Latest Analysis on ABBV
AbbVie Stock Performance
AbbVie stock opened at $170.05 on Monday. The company’s 50-day moving average price is $175.84 and its 200-day moving average price is $184.77. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $300.51 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.
AbbVie (NYSE:ABBV – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 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 during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.
AbbVie Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 227.78%.
AbbVie Profile
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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