Pines Wealth Management LLC Acquires Shares of 5,663 AbbVie Inc. (NYSE:ABBV)

Pines Wealth Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,663 shares of the company’s stock, valued at approximately $992,000.

A number of other institutional investors also recently modified their holdings of ABBV. Quest Partners LLC boosted its stake 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. One Capital Management LLC raised its stake in AbbVie by 60.9% in the second quarter. One Capital Management LLC now owns 11,976 shares of the company’s stock worth $2,054,000 after buying an additional 4,533 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in AbbVie by 15,176.8% in the second quarter. Wulff Hansen & CO. now owns 475,110 shares of the company’s stock worth $81,491,000 after buying an additional 472,000 shares during the period. Luts & Greenleigh Group Inc. bought a new stake in AbbVie during the 2nd quarter valued at approximately $2,337,000. Finally, Lmcg Investments LLC grew its holdings in shares of AbbVie by 1.9% during the 2nd quarter. Lmcg Investments LLC now owns 172,051 shares of the company’s stock worth $29,510,000 after acquiring an additional 3,155 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets lowered their price objective 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 restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. TD Cowen increased their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Five equities 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $175.46 on Wednesday. The stock 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 Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a fifty day moving average price of $177.47 and a 200-day moving average price of $184.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.96 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. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

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.