AbbVie Inc. (NYSE:ABBV) Holdings Increased by Financial Partners Group LLC

Financial Partners Group LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,965 shares of the company’s stock after purchasing an additional 192 shares during the period. Financial Partners Group LLC’s holdings in AbbVie were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABBV. Groupama Asset Managment grew its stake in shares of 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 purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the third quarter worth approximately $28,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie in the fourth quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. increased its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABBV. UBS Group lifted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Piper Sandler boosted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Price Performance

Shares of AbbVie stock opened at $170.05 on Friday. The firm has a fifty day simple moving average of $175.74 and a 200-day simple moving average of $184.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the previous year, the company earned $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 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.