AbbVie Inc. (NYSE:ABBV) Shares Acquired by Priebe Wealth Holdings LLC

Priebe Wealth Holdings LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 41.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,086 shares of the company’s stock after buying an additional 902 shares during the period. Priebe Wealth Holdings LLC’s holdings in AbbVie were worth $548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Sky Investment Group LLC boosted its stake in AbbVie by 10.1% in the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock worth $7,590,000 after purchasing an additional 3,936 shares in the last quarter. Wealthquest Corp raised its holdings in shares of AbbVie by 4.3% in the fourth quarter. Wealthquest Corp now owns 2,885 shares of the company’s stock worth $513,000 after buying an additional 119 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in shares of AbbVie by 21.5% in the fourth quarter. Gemmer Asset Management LLC now owns 3,050 shares of the company’s stock worth $542,000 after buying an additional 540 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares during the last quarter. Finally, Cove Private Wealth LLC raised its stake in AbbVie by 4.5% in the 4th quarter. Cove Private Wealth LLC now owns 2,873 shares of the company’s stock worth $511,000 after acquiring an additional 123 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly 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 document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 1.3 %

Shares of NYSE ABBV opened at $171.49 on Tuesday. 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 company’s 50-day simple moving average is $175.78 and its 200-day simple moving average is $184.75. The firm has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a price-to-earnings-growth ratio of 1.73 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, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. Equities analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a 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 215.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Wells Fargo & Company increased their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets reduced their price target 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. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie 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.