14,794 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Range Financial Group LLC

Range Financial Group LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,794 shares of the company’s stock, valued at approximately $2,629,000. AbbVie accounts for about 1.2% of Range Financial Group LLC’s investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Strategic Financial Concepts LLC increased 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 acquiring an additional 276,946 shares during the period. Koss Olinger Consulting LLC acquired a new position in AbbVie in the second quarter valued at about $371,000. Arbor Capital Management Inc. ADV acquired a new position in AbbVie in the second quarter valued at about $4,611,000. Quest Partners LLC boosted its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Finally, Moser Wealth Advisors LLC boosted its position in AbbVie by 2.4% in the second quarter. Moser Wealth Advisors LLC now owns 13,743 shares of the company’s stock valued at $2,357,000 after buying an additional 325 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Five equities research 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. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.70.

AbbVie Trading Down 0.3 %

NYSE:ABBV traded down $0.51 during trading hours on Tuesday, hitting $179.59. The stock had a trading volume of 5,392,909 shares, compared to its average volume of 5,020,276. AbbVie Inc. has a one year low of $153.58 and a one year 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. The company has a market cap of $317.36 billion, a price-to-earnings ratio of 62.36, a P/E/G ratio of 1.92 and a beta of 0.58. The business’s 50 day moving average is $180.20 and its 200-day moving average is $184.36.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is an increase 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 3.65%. AbbVie’s dividend payout ratio is currently 227.78%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by 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.