Stolper Co Acquires 68 Shares of AbbVie Inc. (NYSE:ABBV)

Stolper Co raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,506 shares of the company’s stock after buying an additional 68 shares during the quarter. Stolper Co’s holdings in AbbVie were worth $2,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ERn Financial LLC grew its holdings in AbbVie by 58.6% during the 4th quarter. ERn Financial LLC now owns 1,724 shares of the company’s stock valued at $306,000 after purchasing an additional 637 shares during the last quarter. BluePath Capital Management LLC boosted its position in shares of AbbVie by 20.5% during the fourth quarter. BluePath Capital Management LLC now owns 11,158 shares of the company’s stock valued at $1,972,000 after buying an additional 1,902 shares during the period. Sendero Wealth Management LLC grew its stake in shares of AbbVie by 10.8% during the fourth quarter. Sendero Wealth Management LLC now owns 7,251 shares of the company’s stock valued at $1,289,000 after buying an additional 706 shares during the last quarter. Roble Belko & Company Inc raised its holdings in shares of AbbVie by 15.7% in the fourth quarter. Roble Belko & Company Inc now owns 5,156 shares of the company’s stock worth $916,000 after buying an additional 700 shares during the period. Finally, Armstrong Advisory Group Inc. grew its position in AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after acquiring an additional 58 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABBV. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Truist Financial lowered their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Barclays upped their target price 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. BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Price Performance

Shares of NYSE ABBV opened at $171.32 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The business’s 50 day moving average price is $177.47 and its 200 day moving average price is $184.63. 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 firm has a market cap of $302.75 billion, a P/E ratio of 59.49, a P/E/G ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released 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 business 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 business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 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.