4,421 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Floyd Financial Group LLC

Floyd Financial Group LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, Holdings Channel reports. The fund bought 4,421 shares of the company’s stock, valued at approximately $774,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pines Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $992,000. Fiduciary Financial Group LLC lifted its stake in AbbVie by 13.7% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,668 shares of the company’s stock valued at $292,000 after buying an additional 201 shares in the last quarter. Mayfair Advisory Group LLC boosted its holdings in shares of AbbVie by 6.2% in the fourth quarter. Mayfair Advisory Group LLC now owns 1,720 shares of the company’s stock worth $306,000 after buying an additional 100 shares during the period. Ignite Planners LLC increased its position in shares of AbbVie by 3.7% in the fourth quarter. Ignite Planners LLC now owns 4,400 shares of the company’s stock worth $797,000 after acquiring an additional 159 shares in the last quarter. Finally, Breakwater Capital Group raised its holdings in shares of AbbVie by 10.9% during the fourth quarter. Breakwater Capital Group now owns 5,021 shares of the company’s stock valued at $892,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated 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. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.7 %

Shares of ABBV stock opened at $175.46 on Wednesday. The business’s 50 day moving average is $177.47 and its two-hundred day moving average is $184.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a market cap of $310.06 billion, a PE ratio of 60.92, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced 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 firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. Equities analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.74%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent analyst reports. Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. BMO Capital Markets decreased their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Truist Financial dropped their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Five 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

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.