Elevated Capital Advisors LLC Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Elevated Capital Advisors LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,089 shares of the company’s stock after buying an additional 1,377 shares during the quarter. Elevated Capital Advisors LLC’s holdings in AbbVie were worth $2,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Eastern Bank boosted its position in shares of AbbVie by 36.7% during the fourth quarter. Eastern Bank now owns 290,164 shares of the company’s stock valued at $51,562,000 after buying an additional 77,889 shares during the period. Consilio Wealth Advisors LLC lifted its stake in shares of AbbVie by 12.2% during the 4th quarter. Consilio Wealth Advisors LLC now owns 2,477 shares of the company’s stock worth $440,000 after acquiring an additional 270 shares during the last quarter. Accelerate Investment Advisors LLC boosted its holdings in AbbVie by 11.4% during the 4th quarter. Accelerate Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $220,000 after acquiring an additional 127 shares during the period. Cooper Financial Group grew its position in AbbVie by 7.0% in the 4th quarter. Cooper Financial Group now owns 10,241 shares of the company’s stock valued at $1,820,000 after acquiring an additional 668 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in AbbVie by 16.5% in the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after purchasing an additional 3,654 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group upped their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Truist Financial decreased their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company upped their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Up 1.0 %

Shares of ABBV stock opened at $176.94 on Tuesday. The stock’s fifty day moving average price is $178.00 and its 200 day moving average price is $184.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market cap of $312.68 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (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 the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.95 earnings per share. On average, research analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’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 value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.