AbbVie Inc. (NYSE:ABBV) Shares Bought by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,916 shares of the company’s stock after purchasing an additional 282 shares during the period. Chemistry Wealth Management LLC’s holdings in AbbVie were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $28,000. Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. Mizuho Securities Co. Ltd. raised its position in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. Finally, Quest Partners LLC raised its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.3 %

Shares of ABBV stock opened at $171.49 on Friday. The business’s 50 day moving average is $175.78 and its two-hundred day moving average is $184.47. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a market capitalization of $303.05 billion, a P/E ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie’s payout ratio is 215.28%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Citigroup cut their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Truist Financial cut their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.