Asio Capital LLC Purchases 113 Shares of AbbVie Inc. (NYSE:ABBV)

Asio Capital LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,192 shares of the company’s stock after acquiring an additional 113 shares during the period. Asio Capital LLC’s holdings in AbbVie were worth $923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. Ascent Group LLC increased its holdings in AbbVie by 4.5% in the 2nd quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock valued at $4,421,000 after acquiring an additional 1,102 shares during the last quarter. Annandale Capital LLC increased its holdings in shares of AbbVie by 686.6% in the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock worth $4,992,000 after buying an additional 25,406 shares during the last quarter. Copperwynd Financial LLC increased its holdings in shares of AbbVie by 29.5% in the 2nd quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock worth $289,000 after buying an additional 356 shares during the last quarter. Magnolia Capital Advisors LLC increased its holdings in shares of AbbVie by 89.5% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 9,256 shares of the company’s stock worth $1,588,000 after buying an additional 4,371 shares during the last quarter. Finally, Silver Lake Advisory LLC increased its holdings in shares of AbbVie by 2.6% in the 2nd quarter. Silver Lake Advisory LLC now owns 57,427 shares of the company’s stock worth $9,850,000 after buying an additional 1,456 shares during the last quarter. 70.23% of the stock is currently owned by 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

Shares of ABBV opened at $170.05 on Monday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a 50 day moving average price of $175.84 and a 200-day moving average price of $184.77. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market capitalization of $300.51 billion, a PE ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. AbbVie’s revenue was up 3.8% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.86%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Finally, Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five 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. According to MarketBeat, the stock currently has a consensus 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.