Impact Partnership Wealth LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Impact Partnership Wealth LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,842 shares of the company’s stock after selling 754 shares during the period. Impact Partnership Wealth LLC’s holdings in AbbVie were worth $860,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth $999,000. Saturna Capital Corp lifted its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC grew its position in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.4 %

AbbVie stock opened at $170.05 on Friday. The business’s 50-day moving average price is $175.74 and its 200 day moving average price is $184.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the firm earned $2.95 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side 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 given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Analyst Ratings Changes

Several brokerages have weighed in on ABBV. Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, UBS Group lifted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.50.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Company 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.