Bartlett & CO. Wealth Management LLC Reduces Position in AbbVie Inc. (NYSE:ABBV)

Bartlett & CO. Wealth Management LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,686 shares of the company’s stock after selling 1,684 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in AbbVie were worth $21,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Phillips Wealth Planners LLC grew its holdings in AbbVie by 2.7% during the 4th quarter. Phillips Wealth Planners LLC now owns 7,064 shares of the company’s stock valued at $1,237,000 after buying an additional 188 shares in the last quarter. Park Place Capital Corp grew its stake in AbbVie by 5.7% during the fourth quarter. Park Place Capital Corp now owns 11,214 shares of the company’s stock valued at $1,993,000 after acquiring an additional 605 shares in the last quarter. Albion Financial Group UT increased its holdings in AbbVie by 2.8% during the 4th quarter. Albion Financial Group UT now owns 45,218 shares of the company’s stock worth $8,035,000 after acquiring an additional 1,219 shares during the period. Advisory Alpha LLC lifted its stake in AbbVie by 3.7% in the 4th quarter. Advisory Alpha LLC now owns 4,347 shares of the company’s stock worth $773,000 after purchasing an additional 154 shares in the last quarter. Finally, MBM Wealth Consultants LLC boosted its holdings in AbbVie by 0.7% in the 4th quarter. MBM Wealth Consultants LLC now owns 11,346 shares of the company’s stock valued at $2,036,000 after purchasing an additional 83 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Price Performance

ABBV stock opened at $170.42 on Friday. The stock has a market capitalization of $301.15 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.71 and a beta of 0.58. The firm’s 50-day moving average price is $175.72 and its two-hundred day moving average price is $184.73. 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 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The company 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%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $2.95 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.85%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

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.