Tallon Kerry Patrick Purchases Shares of 1,721 AbbVie Inc. (NYSE:ABBV)

Tallon Kerry Patrick purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,721 shares of the company’s stock, valued at approximately $309,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GGM Financials LLC increased its holdings in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc increased its holdings in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares during the last quarter. Dillon & Associates Inc. increased its holdings in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares during the last quarter. First Citizens Financial Corp increased its holdings in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. increased its holdings in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 1.4 %

Shares of ABBV stock opened at $173.68 on Friday. The stock has a market cap of $306.91 billion, a P/E ratio of 60.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The stock has a fifty day moving average price of $176.88 and a 200 day moving average price of $184.54. 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 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 during 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%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $2.95 earnings per share. Analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was 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 $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Guggenheim increased their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company increased their price target on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Five 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. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus 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.