MRA Advisory Group Purchases 155 Shares of AbbVie Inc. (NYSE:ABBV)

MRA Advisory Group lifted its position in AbbVie Inc. (NYSE:ABBV) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,147 shares of the company’s stock after buying an additional 155 shares during the period. MRA Advisory Group’s holdings in AbbVie were worth $559,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Signal Advisors Wealth LLC raised its stake in AbbVie by 16.5% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,642 shares of the company’s stock valued at $292,000 after buying an additional 232 shares during the last quarter. Greenfield Savings Bank increased its holdings in shares of AbbVie by 0.7% during the fourth quarter. Greenfield Savings Bank now owns 17,975 shares of the company’s stock valued at $3,194,000 after acquiring an additional 119 shares in the last quarter. Cullen Investment Group LTD. raised its position in shares of AbbVie by 1.6% in the 4th quarter. Cullen Investment Group LTD. now owns 13,725 shares of the company’s stock valued at $2,439,000 after purchasing an additional 210 shares during the last quarter. Tealwood Asset Management Inc. boosted its stake in AbbVie by 4.0% in the 4th quarter. Tealwood Asset Management Inc. now owns 17,135 shares of the company’s stock worth $3,045,000 after purchasing an additional 652 shares in the last quarter. Finally, Traveka Wealth LLC grew its position in AbbVie by 74.6% during the 4th quarter. Traveka Wealth LLC now owns 3,905 shares of the company’s stock worth $694,000 after purchasing an additional 1,668 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.7 %

Shares of NYSE ABBV opened at $175.46 on Wednesday. The firm has a market cap of $310.06 billion, a price-to-earnings ratio of 60.92, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company’s 50-day simple moving average is $177.47 and its 200-day simple moving average is $184.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the previous year, the firm posted $2.95 EPS. AbbVie’s revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed 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 an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Citigroup lowered their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling at AbbVie

In other AbbVie 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 completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Company 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.