Riversedge Advisors LLC Has $647,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Riversedge Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,639 shares of the company’s stock after acquiring an additional 84 shares during the period. Riversedge Advisors LLC’s holdings in AbbVie were worth $647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in AbbVie by 11.2% during the second quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock worth $83,064,000 after acquiring an additional 48,722 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of AbbVie by 16.6% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,558 shares of the company’s stock worth $3,526,000 after purchasing an additional 2,924 shares during the last quarter. TPG Advisors LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $366,000. Tcwp LLC lifted its holdings in AbbVie by 12.0% during the 2nd quarter. Tcwp LLC now owns 2,936 shares of the company’s stock valued at $504,000 after purchasing an additional 315 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in AbbVie by 1.2% in the second quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock valued at $1,952,000 after buying an additional 130 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABBV. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Stock Down 1.3 %

NYSE:ABBV opened at $171.49 on Friday. The stock has a 50-day simple moving average of $175.78 and a 200 day simple moving average of $184.60. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a market cap of $303.05 billion, a PE ratio of 59.55, a PEG ratio of 1.73 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 (NYSE:ABBV) last released 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 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 the consensus estimate of $14.28 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

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.