Sound Income Strategies LLC Purchases 9,358 Shares of AbbVie Inc. (NYSE:ABBV)

Sound Income Strategies LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,930 shares of the company’s stock after acquiring an additional 9,358 shares during the period. AbbVie makes up 1.1% of Sound Income Strategies LLC’s portfolio, making the stock its 29th biggest holding. Sound Income Strategies LLC’s holdings in AbbVie were worth $17,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp grew its position in AbbVie by 1.6% in the 3rd 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 during the last quarter. Legal & General Group Plc lifted its stake in shares of AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares during the period. FMR LLC grew its position in AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after buying an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AbbVie by 6.1% during the third 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 acquiring an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of ABBV stock opened at $170.05 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm’s 50 day moving average is $175.74 and its 200-day moving average is $184.63. The firm 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 posted its quarterly earnings data 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 EPS. Sell-side analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company 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 $1.64 dividend. 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. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABBV shares. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. 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. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Five 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 stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

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.