United Asset Strategies Inc. Sells 102 Shares of AbbVie Inc. (NYSE:ABBV)

United Asset Strategies Inc. cut its position in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,839 shares of the company’s stock after selling 102 shares during the quarter. United Asset Strategies Inc.’s holdings in AbbVie were worth $2,459,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Group LLC grew its holdings in AbbVie by 1.7% during the 4th quarter. Cornerstone Wealth Group LLC now owns 68,784 shares of the company’s stock worth $12,223,000 after acquiring an additional 1,127 shares during the last quarter. KBC Group NV grew its stake in shares of AbbVie by 5.0% in the fourth quarter. KBC Group NV now owns 1,146,550 shares of the company’s stock worth $203,742,000 after purchasing an additional 54,501 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in AbbVie in the fourth quarter valued at $127,000. Apexium Financial LP raised its position in AbbVie by 22.5% during the 4th quarter. Apexium Financial LP now owns 3,968 shares of the company’s stock worth $705,000 after purchasing an additional 728 shares during the last quarter. Finally, Capital Asset Advisory Services LLC lifted its holdings in AbbVie by 2.6% during the 4th quarter. Capital Asset Advisory Services LLC now owns 18,448 shares of the company’s stock worth $3,343,000 after buying an additional 473 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $176.90 on Tuesday. The stock has a market cap of $312.60 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm’s 50-day simple moving average is $175.84 and its 200 day simple moving average is $184.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $14.28 billion. During the same quarter last year, the company earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced 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 is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ABBV shares. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Truist Financial dropped their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Finally, UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Five 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 stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie 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.