Stablepoint Partners LLC Has $3.86 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Stablepoint Partners LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,710 shares of the company’s stock after buying an additional 81 shares during the period. Stablepoint Partners LLC’s holdings in AbbVie were worth $3,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Regatta Capital Group LLC boosted its holdings in shares of AbbVie by 1.2% during the 4th quarter. Regatta Capital Group LLC now owns 11,621 shares of the company’s stock worth $2,065,000 after buying an additional 136 shares during the period. Novare Capital Management LLC boosted its holdings in shares of AbbVie by 10.1% during the fourth quarter. Novare Capital Management LLC now owns 58,192 shares of the company’s stock worth $10,341,000 after acquiring an additional 5,341 shares during the period. Clarendon Private LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $700,000. Crescent Grove Advisors LLC increased its stake in shares of AbbVie by 54.0% during the fourth quarter. Crescent Grove Advisors LLC now owns 7,690 shares of the company’s stock worth $1,367,000 after purchasing an additional 2,696 shares during the period. Finally, Marshall Financial Group LLC increased its stake in shares of AbbVie by 7.8% during the fourth quarter. Marshall Financial Group LLC now owns 6,012 shares of the company’s stock worth $1,068,000 after purchasing an additional 435 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, 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 through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

AbbVie stock opened at $170.05 on Monday. The firm has a market cap of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. The stock’s 50 day moving average is $175.84 and its 200 day moving average is $184.77. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. AbbVie’s dividend payout ratio is presently 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research reports. Morgan Stanley decreased their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

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.