Cypress Financial Planning LLC bought a new stake in AbbVie Inc. (NYSE:ABBV – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,282 shares of the company’s stock, valued at approximately $228,000.
Other hedge funds have also made changes to their positions in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at $999,000. Saturna Capital Corp lifted its holdings 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 purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. boosted its position 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 purchasing an additional 15,550 shares during the period. GAMMA Investing LLC increased its stake in 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 purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in 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 buying an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.
AbbVie Stock Performance
NYSE:ABBV opened at $175.46 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $310.06 billion, a P/E ratio of 60.92, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The firm has a 50 day moving average of $177.47 and a 200-day moving average of $184.63. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.
AbbVie Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.
Insider Activity at AbbVie
In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ABBV. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Guggenheim upped their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America restated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.
Get Our Latest Stock Report on ABBV
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.
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