Park Place Capital Corp Buys 605 Shares of AbbVie Inc. (NYSE:ABBV)

Park Place Capital Corp increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,214 shares of the company’s stock after acquiring an additional 605 shares during the quarter. Park Place Capital Corp’s holdings in AbbVie were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Mill Creek Capital Advisors LLC lifted its position in shares of AbbVie by 9.2% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock worth $641,000 after purchasing an additional 316 shares during the period. Semmax Financial Advisors Inc. grew its holdings in shares of AbbVie by 33.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock worth $101,000 after acquiring an additional 146 shares during the period. NBW Capital LLC lifted its stake in shares of AbbVie by 1,167.8% in the 2nd quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock valued at $6,635,000 after purchasing an additional 35,631 shares during the period. Alpha DNA Investment Management LLC grew its stake in AbbVie by 44.9% in the second quarter. Alpha DNA Investment Management LLC now owns 17,549 shares of the company’s stock worth $3,010,000 after purchasing an additional 5,437 shares during the period. Finally, Alley Investment Management Company LLC raised its holdings in AbbVie by 0.4% in the second quarter. Alley Investment Management Company LLC now owns 114,237 shares of the company’s stock worth $19,594,000 after purchasing an additional 411 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 2.0 %

NYSE:ABBV opened at $169.19 on Thursday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business has a fifty day moving average price of $175.75 and a 200-day moving average price of $184.84. The firm has a market capitalization of $298.98 billion, a price-to-earnings ratio of 58.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. 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 (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.88%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 227.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABBV shares. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.