Capital Asset Advisory Services LLC Has $3.34 Million Stake in AbbVie Inc. (NYSE:ABBV)

Capital Asset Advisory Services LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,448 shares of the company’s stock after purchasing an additional 473 shares during the period. Capital Asset Advisory Services LLC’s holdings in AbbVie were worth $3,343,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter valued at $39,000. Mizuho Securities Co. Ltd. raised its position in AbbVie by 100.0% in 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. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Guggenheim increased their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays increased their price target 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 target for the company. in a research report on Thursday, December 5th. Truist Financial reduced their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Five 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 stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Down 0.4 %

ABBV stock opened at $170.05 on Monday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a fifty day moving average of $175.84 and a 200-day moving average of $184.77. 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 company has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58.

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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company earned $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 annualized dividend and a yield of 3.86%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 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.