Graney & King LLC Takes $265,000 Position in AbbVie Inc. (NYSE:ABBV)

Graney & King LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,493 shares of the company’s stock, valued at approximately $265,000.

Several other institutional investors have also recently made changes to their positions in ABBV. Groupama Asset Managment grew its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,639 shares of company stock valued at $11,067,025. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Morgan Stanley lifted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup lifted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Stock Performance

ABBV stock opened at $201.12 on Wednesday. The stock has a market capitalization of $355.05 billion, a PE ratio of 83.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock’s 50 day simple moving average is $195.65 and its 200 day simple moving average is $188.78. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 business posted $2.79 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.