Black Diamond Financial LLC Acquires 665 Shares of AbbVie Inc. (NYSE:ABBV)

Black Diamond Financial LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 42.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,246 shares of the company’s stock after buying an additional 665 shares during the period. Black Diamond Financial LLC’s holdings in AbbVie were worth $399,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. GGM Financials LLC lifted its position in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the period. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the last quarter. WFA Asset Management Corp increased its holdings in AbbVie by 0.8% in the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after buying an additional 55 shares in the last quarter. Physicians Financial Services Inc. increased its holdings in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares in the last quarter. Finally, Carr Financial Group Corp increased its holdings in AbbVie by 1.1% in the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after buying an additional 56 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.6 %

ABBV stock opened at $202.03 on Monday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $356.65 billion, a P/E ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The business’s 50-day moving average price is $181.25 and its 200-day moving average price is $186.41.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ABBV shares. Citigroup lifted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a report on Friday, November 22nd. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Leerink Partnrs upgraded 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

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.