Avantax Planning Partners Inc. Acquires 1,453 Shares of AbbVie Inc. (NYSE:ABBV)

Avantax Planning Partners Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,324 shares of the company’s stock after acquiring an additional 1,453 shares during the quarter. Avantax Planning Partners Inc.’s holdings in AbbVie were worth $10,720,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABBV. Raymond James Financial Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $1,190,951,000. Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. State Street Corp lifted its holdings in AbbVie by 1.6% during 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. Proficio Capital Partners LLC lifted its holdings in AbbVie by 26,693.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock worth $209,109,000 after purchasing an additional 1,172,362 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in AbbVie during the 4th quarter worth approximately $186,431,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. BMO Capital Markets lifted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Price Performance

AbbVie stock opened at $216.62 on Tuesday. The stock has a market capitalization of $382.41 billion, a P/E ratio of 90.26, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a fifty day moving average of $188.44 and a 200-day moving average of $187.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the business posted $2.79 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.03%. AbbVie’s dividend payout ratio is currently 273.33%.

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.