Phillips Wealth Planners LLC Acquires 188 Shares of AbbVie Inc. (NYSE:ABBV)

Phillips Wealth Planners LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,064 shares of the company’s stock after purchasing an additional 188 shares during the period. AbbVie makes up about 1.2% of Phillips Wealth Planners LLC’s portfolio, making the stock its 16th biggest position. Phillips Wealth Planners LLC’s holdings in AbbVie were worth $1,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the 4th quarter worth $35,000. Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter worth $39,000. Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter valued at about $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.7 %

NYSE:ABBV opened at $170.42 on Friday. The company has a market cap of $301.15 billion, a P/E ratio of 59.17, a P/E/G ratio of 1.71 and a beta of 0.58. The stock’s fifty day moving average price is $175.72 and its two-hundred day moving average price is $184.73. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.06 EPS for the current 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 given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.85%. 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 related 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 owns 6,983 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company upped their target price on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.