Future Financial Wealth Managment LLC Has $1.05 Million Stake in AbbVie Inc. (NYSE:ABBV)

Future Financial Wealth Managment LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.7% in the fourth quarter, Holdings Channel reports. The fund owned 5,927 shares of the company’s stock after selling 493 shares during the quarter. AbbVie comprises approximately 0.8% of Future Financial Wealth Managment LLC’s investment portfolio, making the stock its 28th biggest holding. Future Financial Wealth Managment LLC’s holdings in AbbVie were worth $1,053,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter valued at about $28,000. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter valued at about $26,000. Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at about $39,000. Mizuho Securities Co. Ltd. boosted its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the third quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Bank of America reiterated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Truist Financial reduced their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets reduced their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, UBS Group increased their target price on shares of 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Trading Up 1.2 %

ABBV stock traded up $2.12 during trading on Monday, hitting $177.29. The company had a trading volume of 2,144,055 shares, compared to its average volume of 4,662,838. 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 firm has a 50-day moving average price of $178.47 and a 200-day moving average price of $184.55. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market cap of $313.30 billion, a price-to-earnings ratio of 61.56, a PEG ratio of 1.92 and a beta of 0.58.

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 net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.70%. AbbVie’s payout ratio 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.