Wolff Wiese Magana LLC Acquires 1,750 Shares of AbbVie Inc. (NYSE:ABBV)

Wolff Wiese Magana LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,097 shares of the company’s stock after acquiring an additional 1,750 shares during the quarter. AbbVie makes up approximately 2.1% of Wolff Wiese Magana LLC’s holdings, making the stock its 8th largest holding. Wolff Wiese Magana LLC’s holdings in AbbVie were worth $3,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Legal & General Group Plc raised its position in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares during the last quarter. FMR LLC raised its position in shares of AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $171.32 on Thursday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market capitalization of $302.75 billion, a price-to-earnings ratio of 59.49, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s 50 day simple moving average is $177.47 and its 200 day simple moving average is $184.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s dividend payout ratio is 227.78%.

Insider Transactions at AbbVie

In other 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ABBV shares. Morgan Stanley dropped their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Finally, Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price 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.