waypoint wealth counsel Sells 97 Shares of AbbVie Inc. (NYSE:ABBV)

waypoint wealth counsel lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,345 shares of the company’s stock after selling 97 shares during the quarter. waypoint wealth counsel’s holdings in AbbVie were worth $594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter valued at about $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC acquired a new position in AbbVie during the third quarter valued at $39,000. Mizuho Securities Co. Ltd. boosted its holdings in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie during the 3rd quarter worth about $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. BMO Capital Markets cut their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Five equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Stock Down 0.4 %

Shares of NYSE:ABBV opened at $170.05 on Monday. The firm has a market capitalization of $300.51 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm’s 50-day moving average is $175.84 and its two-hundred day moving average is $184.77.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm earned $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 10.06 EPS for the current 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

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.