Aaron Wealth Advisors LLC boosted its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,719 shares of the company’s stock after acquiring an additional 651 shares during the period. Aaron Wealth Advisors LLC’s holdings in AbbVie were worth $1,905,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ABBV. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the 4th quarter worth $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie in the third quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of AbbVie by 100.0% during the third 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 period. 70.23% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ABBV has been the subject of a number of recent analyst reports. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim increased their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Five investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.50.
AbbVie Trading Down 1.3 %
Shares of ABBV stock opened at $171.49 on Monday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market capitalization of $303.05 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The stock has a fifty day moving average of $175.78 and a two-hundred day moving average of $184.75. 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 (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 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 analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.
AbbVie Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie’s payout ratio is currently 215.28%.
Insider Buying and Selling at AbbVie
In related 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 completion of 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 represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
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.
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