AbbVie Inc. (NYSE:ABBV) Holdings Lifted by Wealthquest Corp

Wealthquest Corp boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,885 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Wealthquest Corp’s holdings in AbbVie were worth $513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. GGM Financials LLC boosted its holdings in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc grew its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the period. First Citizens Financial Corp lifted its holdings in shares of AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after purchasing an additional 53 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Transactions at AbbVie

In related 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 completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $171.49 on Tuesday. 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 $175.78 and a 200 day moving average price of $184.75. The stock has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released 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 net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the company earned $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

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.