AbbVie Inc. (NYSE:ABBV) is Culbertson A N & Co. Inc.’s 10th Largest Position

Culbertson A N & Co. Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,718 shares of the company’s stock after selling 82 shares during the quarter. AbbVie makes up 2.0% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 10th biggest holding. Culbertson A N & Co. Inc.’s holdings in AbbVie were worth $12,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Resources Management Corp CT ADV grew its position in shares of AbbVie by 0.5% during the second quarter. Resources Management Corp CT ADV now owns 81,355 shares of the company’s stock worth $13,954,000 after purchasing an additional 383 shares in the last quarter. Providence Capital Advisors LLC grew its position in shares of AbbVie by 1.1% during the second quarter. Providence Capital Advisors LLC now owns 16,101 shares of the company’s stock worth $2,762,000 after purchasing an additional 169 shares in the last quarter. Mill Creek Capital Advisors LLC grew its position in shares of AbbVie by 9.2% during the second quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock worth $641,000 after purchasing an additional 316 shares in the last quarter. Distillate Capital Partners LLC grew its position in shares of AbbVie by 364,292.5% during the second quarter. Distillate Capital Partners LLC now owns 291,514 shares of the company’s stock worth $50,000,000 after purchasing an additional 291,434 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its position in shares of AbbVie by 33.0% during the second quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock worth $101,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. BMO Capital Markets dropped their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insiders Place Their Bets

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 transaction of $310,032.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Up 0.5 %

Shares of NYSE ABBV opened at $172.41 on Wednesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The business’s 50 day moving average price is $175.72 and its 200-day moving average price is $184.80. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a market cap of $304.67 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.80%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

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.