Capital Market Strategies LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Capital Market Strategies LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,679 shares of the company’s stock after purchasing an additional 89 shares during the period. AbbVie comprises 1.1% of Capital Market Strategies LLC’s portfolio, making the stock its 18th largest position. Capital Market Strategies LLC’s holdings in AbbVie were worth $1,898,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hanlon Investment Management Inc. acquired a new position in AbbVie in the second quarter valued at approximately $202,000. Los Angeles Capital Management LLC grew its stake in AbbVie by 38.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 233,256 shares of the company’s stock worth $40,008,000 after buying an additional 64,979 shares during the last quarter. Umpqua Bank increased its position in AbbVie by 24.4% in the second quarter. Umpqua Bank now owns 2,210 shares of the company’s stock worth $379,000 after buying an additional 433 shares during the period. Strategic Financial Concepts LLC lifted its stake in AbbVie by 10,713.6% in the second quarter. Strategic Financial Concepts LLC now owns 279,531 shares of the company’s stock valued at $479,000 after buying an additional 276,946 shares during the last quarter. Finally, Chris Bulman Inc bought a new position in shares of AbbVie during the second quarter worth about $420,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of ABBV stock traded down $0.16 during trading hours on Monday, reaching $181.06. 1,785,560 shares of the stock traded hands, compared to its average volume of 3,399,687. The business has a fifty day moving average price of $180.39 and a 200 day moving average price of $184.31. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. 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 capitalization of $319.96 billion, a PE ratio of 62.87, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.62%. 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. AbbVie’s dividend payout ratio is 227.78%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent research reports. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Five research 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 company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

Insider Buying and Selling

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