Certified Advisory Corp Has $1.33 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Certified Advisory Corp raised its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,505 shares of the company’s stock after buying an additional 69 shares during the period. Certified Advisory Corp’s holdings in AbbVie were worth $1,334,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter valued at approximately $28,000. Marquette Asset Management LLC acquired a new stake in AbbVie during the 3rd quarter worth $39,000. Mizuho Securities Co. Ltd. lifted its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in AbbVie in the third quarter valued at about $39,000. Finally, Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 1.4 %

Shares of NYSE:ABBV opened at $173.68 on Friday. The business’s 50-day moving average is $176.88 and its 200-day moving average is $184.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a market capitalization of $306.91 billion, a price-to-earnings ratio of 60.30, a P/E/G ratio of 1.73 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.

AbbVie (NYSE:ABBV) last posted 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. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 EPS. Equities research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued 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 3.78%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value 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 $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.