Veracity Capital LLC Buys 338 Shares of AbbVie Inc. (NYSE:ABBV)

Veracity Capital LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,682 shares of the company’s stock after acquiring an additional 338 shares during the period. Veracity Capital LLC’s holdings in AbbVie were worth $832,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Atlanta Consulting Group Advisors LLC bought a new stake in shares of AbbVie in the 3rd quarter worth about $999,000. Saturna Capital Corp grew its stake in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the last quarter. Everence Capital Management Inc. increased its holdings in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of AbbVie by 23.5% in 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 and hedge funds.

AbbVie Stock Up 0.7 %

Shares of NYSE:ABBV opened at $170.42 on Friday. The company has a 50 day moving average price of $175.72 and a two-hundred day moving average price of $184.73. The company has a market capitalization of $301.15 billion, a PE ratio of 59.17, a PEG ratio of 1.71 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.85%. AbbVie’s payout ratio is currently 227.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Citigroup dropped their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Truist Financial lowered their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.50.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by company insiders.

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.