Moody Lynn & Lieberson LLC Has $27.71 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Moody Lynn & Lieberson LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 155,952 shares of the company’s stock after selling 25,213 shares during the period. AbbVie comprises approximately 1.7% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 17th biggest position. Moody Lynn & Lieberson LLC’s holdings in AbbVie were worth $27,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alethea Capital Management LLC purchased a new position in AbbVie in the second quarter valued at approximately $488,000. Goodman Advisory Group LLC grew its stake in shares of AbbVie by 3,909.8% during the 2nd quarter. Goodman Advisory Group LLC now owns 13,914 shares of the company’s stock worth $2,387,000 after acquiring an additional 13,567 shares during the period. Ascent Group LLC increased its holdings in AbbVie by 4.5% in the 2nd quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock worth $4,421,000 after acquiring an additional 1,102 shares during the last quarter. Annandale Capital LLC raised its stake in AbbVie by 686.6% in the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock valued at $4,992,000 after acquiring an additional 25,406 shares during the period. Finally, Copperwynd Financial LLC lifted its holdings in AbbVie by 29.5% during the second quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock valued at $289,000 after purchasing an additional 356 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.4 %

ABBV opened at $170.05 on Friday. The business’s fifty day simple moving average is $175.84 and its 200 day simple moving average is $184.66. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. 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 stock has a market cap of $300.51 billion, a PE ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.95 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.86%. AbbVie’s payout ratio is currently 227.78%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ABBV shares. Wells Fargo & Company lifted their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

About AbbVie

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.