Weaver Consulting Group Has $240,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Weaver Consulting Group grew its holdings in AbbVie Inc. (NYSE:ABBV) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,349 shares of the company’s stock after buying an additional 74 shares during the period. Weaver Consulting Group’s holdings in AbbVie were worth $240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. International Assets Investment Management LLC boosted its position in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares during the period. State Street Corp lifted its stake in shares of 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 buying an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock worth $414,088,000 after buying an additional 781,858 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AbbVie by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after buying an additional 623,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. Citigroup cut their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Guggenheim lifted their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Finally, TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $179.59 on Wednesday. The stock has a fifty day moving average of $180.00 and a 200-day moving average of $184.42. The stock has a market capitalization of $317.36 billion, a P/E ratio of 62.36, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. 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 Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal 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 $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.65%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.