Crestwood Advisors Group LLC Raises Stake in AbbVie Inc. (NYSE:ABBV)

Crestwood Advisors Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 113,021 shares of the company’s stock after buying an additional 2,305 shares during the period. Crestwood Advisors Group LLC’s holdings in AbbVie were worth $20,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the fourth quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% in the 3rd 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. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

Shares of ABBV stock opened at $202.03 on Monday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66. The stock has a market capitalization of $356.65 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company’s 50-day simple moving average is $181.25 and its 200-day simple moving average is $186.41.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business posted $2.79 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.