1834 Investment Advisors Co. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,479 shares of the company’s stock after selling 562 shares during the quarter. 1834 Investment Advisors Co.’s holdings in AbbVie were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment boosted its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter worth about $28,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Five investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.
Insiders Place Their Bets
In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 of the company’s stock, 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 can be accessed through this link. Company insiders own 0.25% of the company’s stock.
AbbVie Stock Down 0.4 %
Shares of NYSE:ABBV opened at $170.05 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a 50 day moving average of $175.84 and a 200-day moving average of $184.77. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.
AbbVie (NYSE:ABBV – Get Free Report) last released 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. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current 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 paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.86%. AbbVie’s dividend payout ratio is presently 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.
Further Reading
- Five stocks we like better than AbbVie
- What Is WallStreetBets and What Stocks Are They Targeting?
- MP Materials: Rare Earth Elements Powering the EV Boom
- What is a Bond Market Holiday? How to Invest and Trade
- Verizon’s Turnaround Gains Traction: New Highs Are Likely in 2025
- Compound Interest and Why It Matters When Investing
- Bloom Energy: Powering the Future With Decentralized Energy
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.