AbbVie Inc. (NYSE:ABBV) Stock Position Boosted by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 37.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,002 shares of the company’s stock after buying an additional 12,085 shares during the period. Miracle Mile Advisors LLC’s holdings in AbbVie were worth $7,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Inspire Advisors LLC boosted its position in shares of AbbVie by 4.1% during the 2nd quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock valued at $264,000 after purchasing an additional 61 shares in the last quarter. Lyell Wealth Management LP boosted its position in shares of AbbVie by 4.0% during the 2nd quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock valued at $287,000 after purchasing an additional 64 shares in the last quarter. Quilter Plc boosted its position in shares of AbbVie by 14.7% during the 2nd quarter. Quilter Plc now owns 7,803 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in shares of AbbVie during the 2nd quarter valued at about $149,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Piper Sandler raised their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Trading Up 1.0 %

NYSE:ABBV opened at $176.94 on Tuesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market cap of $312.68 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 1.92 and a beta of 0.58. 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 company’s 50 day moving average is $178.00 and its 200-day moving average is $184.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the firm posted $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company 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 is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.