Tennessee Valley Asset Management Partners Has $4.22 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Tennessee Valley Asset Management Partners decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,766 shares of the company’s stock after selling 203 shares during the period. AbbVie makes up 0.7% of Tennessee Valley Asset Management Partners’ portfolio, making the stock its 25th largest position. Tennessee Valley Asset Management Partners’ holdings in AbbVie were worth $4,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Peak Financial Management Inc. grew its position in shares of AbbVie by 7.7% in the 4th quarter. Peak Financial Management Inc. now owns 1,254 shares of the company’s stock valued at $223,000 after purchasing an additional 90 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of AbbVie by 7.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 85,095 shares of the company’s stock valued at $15,121,000 after buying an additional 6,162 shares during the period. Stablepoint Partners LLC increased its position in shares of AbbVie by 0.4% during the fourth quarter. Stablepoint Partners LLC now owns 21,710 shares of the company’s stock worth $3,858,000 after acquiring an additional 81 shares in the last quarter. Regatta Capital Group LLC increased its position in shares of AbbVie by 1.2% during the fourth quarter. Regatta Capital Group LLC now owns 11,621 shares of the company’s stock worth $2,065,000 after acquiring an additional 136 shares in the last quarter. Finally, Novare Capital Management LLC raised its holdings in shares of AbbVie by 10.1% during the fourth quarter. Novare Capital Management LLC now owns 58,192 shares of the company’s stock worth $10,341,000 after acquiring an additional 5,341 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Finally, Morgan Stanley dropped their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $170.05 on Monday. The stock has a market cap of $300.51 billion, a PE ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. 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 business has a 50-day simple moving average of $175.84 and a two-hundred day simple moving average of $184.77. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during 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%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 earnings per share. 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. 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 3.86%. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.