AbbVie Inc. (NYSE:ABBV) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,938 shares of the company’s stock after acquiring an additional 12,036 shares during the period. HB Wealth Management LLC’s holdings in AbbVie were worth $19,180,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sara Bay Financial raised its position in shares of AbbVie by 1.8% during the 4th quarter. Sara Bay Financial now owns 13,629 shares of the company’s stock worth $2,401,000 after purchasing an additional 247 shares during the period. Financial & Tax Architects LLC grew its stake in AbbVie by 4.7% during the 4th quarter. Financial & Tax Architects LLC now owns 37,082 shares of the company’s stock worth $6,590,000 after buying an additional 1,662 shares during the last quarter. Gill Capital Partners LLC grew its stake in AbbVie by 67.4% during the 4th quarter. Gill Capital Partners LLC now owns 1,741 shares of the company’s stock worth $309,000 after buying an additional 701 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in AbbVie by 14.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 10,426 shares of the company’s stock worth $1,853,000 after buying an additional 1,353 shares during the period. Finally, Howard Financial Services LTD. lifted its stake in AbbVie by 3.1% in the fourth quarter. Howard Financial Services LTD. now owns 3,760 shares of the company’s stock valued at $668,000 after buying an additional 113 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Trading Down 1.3 %

ABBV opened at $171.49 on Friday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market capitalization of $303.05 billion, a PE ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s 50-day moving average is $175.78 and its 200 day moving average is $184.60.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the firm earned $2.95 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 215.28%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

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.