Hummer Financial Advisory Services Inc Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Hummer Financial Advisory Services Inc lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,100 shares of the company’s stock after selling 100 shares during the quarter. AbbVie makes up 1.1% of Hummer Financial Advisory Services Inc’s investment portfolio, making the stock its 17th largest position. Hummer Financial Advisory Services Inc’s holdings in AbbVie were worth $1,439,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Quest Partners LLC boosted its holdings in AbbVie by 4,140.0% in 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. One Capital Management LLC boosted its holdings in AbbVie by 60.9% in the 2nd quarter. One Capital Management LLC now owns 11,976 shares of the company’s stock valued at $2,054,000 after purchasing an additional 4,533 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in AbbVie by 15,176.8% in the 2nd quarter. Wulff Hansen & CO. now owns 475,110 shares of the company’s stock valued at $81,491,000 after purchasing an additional 472,000 shares in the last quarter. Luts & Greenleigh Group Inc. purchased a new stake in AbbVie in the 2nd quarter valued at approximately $2,337,000. Finally, Lmcg Investments LLC boosted its holdings in AbbVie by 1.9% in the 2nd quarter. Lmcg Investments LLC now owns 172,051 shares of the company’s stock valued at $29,510,000 after purchasing an additional 3,155 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7 %

ABBV stock opened at $175.46 on Wednesday. The company has a market cap of $310.06 billion, a price-to-earnings ratio of 60.92, a PEG 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 business has a fifty day simple moving average of $177.47 and a 200-day simple moving average of $184.63. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

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

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABBV. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Finally, TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

About AbbVie

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.