Baker Ellis Asset Management LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,193 shares of the company’s stock after selling 150 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in AbbVie were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the third quarter worth $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the 4th quarter worth $35,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter valued at about $39,000. Mizuho Securities Co. Ltd. raised its stake in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of AbbVie during the third quarter worth about $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on the company. TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Truist Financial decreased their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.
AbbVie Trading Up 0.7 %
NYSE:ABBV opened at $170.42 on Friday. The stock has a market cap of $301.15 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.71 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 price is $175.72 and its 200-day moving average price is $184.73. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.
AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.
AbbVie Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.85%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.
Insider Activity
In other AbbVie 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.
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.
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