AbbVie Inc. (NYSE:ABBV) Position Raised by Atwood & Palmer Inc.

Atwood & Palmer Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,903 shares of the company’s stock after purchasing an additional 2,377 shares during the quarter. AbbVie comprises about 2.4% of Atwood & Palmer Inc.’s investment portfolio, making the stock its 11th largest holding. Atwood & Palmer Inc.’s holdings in AbbVie were worth $34,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment grew its holdings in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the 3rd quarter worth about $28,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the 4th quarter worth about $35,000. Marquette Asset Management LLC acquired a new stake in AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABBV shares. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Finally, Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $172.41 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. 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 52 week low of $153.58 and a 52 week high of $207.32. The stock has a market cap of $304.67 billion, a P/E ratio of 59.86, a P/E/G ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. Equities research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business 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 represents a $6.56 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 227.78%.

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.