Great Waters Wealth Management Sells 74 Shares of AbbVie Inc. (NYSE:ABBV)

Great Waters Wealth Management cut its holdings in AbbVie Inc. (NYSE:ABBV) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,187 shares of the company’s stock after selling 74 shares during the quarter. Great Waters Wealth Management’s holdings in AbbVie were worth $211,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. State Street Corp boosted its position in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after buying an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after buying an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp raised its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. Citigroup lowered their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. UBS Group increased their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Bank of America reissued a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Up 0.5 %

Shares of ABBV stock opened at $172.41 on Wednesday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock has a market cap of $304.67 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. The firm’s 50-day moving average is $175.72 and its 200-day moving average is $184.80. 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) last released its quarterly earnings data 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 firm 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 for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.95 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. 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. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.