Sara Bay Financial Has $2.40 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sara Bay Financial lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,629 shares of the company’s stock after purchasing an additional 247 shares during the quarter. AbbVie makes up about 0.9% of Sara Bay Financial’s investment portfolio, making the stock its 14th largest position. Sara Bay Financial’s holdings in AbbVie were worth $2,401,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ABBV. Financial & Tax Architects LLC lifted its stake in AbbVie by 4.7% during the fourth quarter. Financial & Tax Architects LLC now owns 37,082 shares of the company’s stock worth $6,590,000 after purchasing an additional 1,662 shares during the period. Gill Capital Partners LLC grew its stake in shares of AbbVie by 67.4% in the 4th quarter. Gill Capital Partners LLC now owns 1,741 shares of the company’s stock valued at $309,000 after purchasing an additional 701 shares during the period. Premier Path Wealth Partners LLC raised its holdings in shares of AbbVie by 14.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 10,426 shares of the company’s stock worth $1,853,000 after buying an additional 1,353 shares in the last quarter. Howard Financial Services LTD. lifted its position in shares of AbbVie by 3.1% during the 4th quarter. Howard Financial Services LTD. now owns 3,760 shares of the company’s stock worth $668,000 after buying an additional 113 shares during the period. Finally, Alhambra Investment Management LLC boosted its stake in AbbVie by 11.5% in the 4th quarter. Alhambra Investment Management LLC now owns 3,495 shares of the company’s stock valued at $621,000 after buying an additional 360 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were 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 $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $171.49 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. 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 $303.05 billion, a P/E ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The business has a 50-day moving average price of $175.78 and a two-hundred day moving average price of $184.60.

AbbVie (NYSE:ABBV) last issued its quarterly 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. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. Equities 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. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup reduced their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company raised their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.