AbbVie Inc. (NYSE:ABBV) Stake Lowered by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,106 shares of the company’s stock after selling 79 shares during the period. Elmwood Wealth Management Inc.’s holdings in AbbVie were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Accelerate Investment Advisors LLC boosted its position in AbbVie by 11.4% during the fourth quarter. Accelerate Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $220,000 after purchasing an additional 127 shares during the period. Cooper Financial Group raised its holdings in AbbVie by 7.0% in the 4th quarter. Cooper Financial Group now owns 10,241 shares of the company’s stock valued at $1,820,000 after acquiring an additional 668 shares in the last quarter. Wedmont Private Capital lifted its position in AbbVie by 16.5% in the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after purchasing an additional 3,654 shares during the period. Talbot Financial LLC increased its stake in AbbVie by 4.9% in the fourth quarter. Talbot Financial LLC now owns 96,509 shares of the company’s stock valued at $17,150,000 after acquiring an additional 4,503 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in AbbVie by 0.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 132,253 shares of the company’s stock worth $23,501,000 after purchasing an additional 1,231 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, 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 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 Up 1.0 %

Shares of ABBV stock traded up $1.83 during trading hours on Monday, hitting $177.00. 2,651,849 shares of the company were exchanged, compared to its average volume of 4,723,911. The company has a market capitalization of $312.78 billion, a PE ratio of 61.46, a PEG ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The business has a 50 day moving average of $178.47 and a two-hundred day moving average of $184.55. 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 (NYSE:ABBV) last posted its quarterly earnings data 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 company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial reduced their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets decreased their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Citigroup reduced their target price 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. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five equities research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.50.

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.