AbbVie Inc. (NYSE:ABBV) Shares Acquired by Veracity Capital LLC

Veracity Capital LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,682 shares of the company’s stock after buying an additional 338 shares during the period. Veracity Capital LLC’s holdings in AbbVie were worth $832,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $999,000. Saturna Capital Corp boosted its holdings in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. Everence Capital Management Inc. grew its position in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group boosted 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. Truist Financial reduced their price objective 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 lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. 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. Finally, Barclays lifted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

NYSE:ABBV opened at $170.42 on Friday. 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 one year low of $153.58 and a one year high of $207.32. The company has a fifty day moving average price of $175.72 and a 200 day moving average price of $184.73. The stock has a market cap of $301.15 billion, a P/E ratio of 59.17, a PEG ratio of 1.71 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business 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 firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.95 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.85%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio 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.