AbbVie Inc. (NYSE:ABBV) Shares Bought by FCG Investment Co

FCG Investment Co lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 12,208 shares of the company’s stock after acquiring an additional 557 shares during the period. AbbVie accounts for 1.3% of FCG Investment Co’s portfolio, making the stock its 19th largest position. FCG Investment Co’s holdings in AbbVie were worth $2,169,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Veracity Capital LLC grew its position in AbbVie by 7.8% during the fourth quarter. Veracity Capital LLC now owns 4,682 shares of the company’s stock valued at $832,000 after acquiring an additional 338 shares during the period. Secure Asset Management LLC grew its holdings in shares of AbbVie by 11.9% during the 4th quarter. Secure Asset Management LLC now owns 12,541 shares of the company’s stock worth $2,229,000 after purchasing an additional 1,337 shares during the period. Seros Financial LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $214,000. Red Door Wealth Management LLC lifted its position in AbbVie by 225.4% during the fourth quarter. Red Door Wealth Management LLC now owns 35,586 shares of the company’s stock valued at $6,324,000 after buying an additional 24,651 shares in the last quarter. Finally, Donoghue Forlines LLC grew its stake in AbbVie by 14.3% during the fourth quarter. Donoghue Forlines LLC now owns 9,022 shares of the company’s stock worth $1,603,000 after buying an additional 1,131 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Truist Financial lowered their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Citigroup reduced their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Trading Down 0.4 %

Shares of NYSE ABBV opened at $170.05 on Friday. 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 stock’s 50 day moving average price is $175.74 and its two-hundred day moving average price is $184.63. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 EPS. On average, analysts anticipate that AbbVie Inc. will post 10.06 earnings per share 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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.

AbbVie Company 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.