AbbVie Inc. (NYSE:ABBV) Shares Purchased by Sandy Cove Advisors LLC

Sandy Cove Advisors LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 13.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,592 shares of the company’s stock after buying an additional 187 shares during the quarter. Sandy Cove Advisors LLC’s holdings in AbbVie were worth $283,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABBV. Sei Investments Co. increased its stake in shares of AbbVie by 11.2% during the 2nd quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock worth $83,064,000 after purchasing an additional 48,722 shares in the last quarter. Summit Trail Advisors LLC increased its position in AbbVie by 16.6% during the second quarter. Summit Trail Advisors LLC now owns 20,558 shares of the company’s stock worth $3,526,000 after buying an additional 2,924 shares in the last quarter. TPG Advisors LLC acquired a new position in shares of AbbVie in the second quarter worth $366,000. Tcwp LLC lifted its position in shares of AbbVie by 12.0% in the second quarter. Tcwp LLC now owns 2,936 shares of the company’s stock valued at $504,000 after acquiring an additional 315 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in shares of AbbVie by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock valued at $1,952,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.3 %

Shares of ABBV opened at $171.49 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. 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 $303.05 billion, a PE ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The stock’s 50-day moving average is $175.78 and its two-hundred day moving average is $184.60.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 EPS. Equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. 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 3.83%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ABBV shares. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Guggenheim upped their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

Get Our Latest Research Report on ABBV

AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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