Talbot Financial LLC Buys 4,503 Shares of AbbVie Inc. (NYSE:ABBV)

Talbot Financial LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,509 shares of the company’s stock after purchasing an additional 4,503 shares during the quarter. AbbVie accounts for about 2.0% of Talbot Financial LLC’s portfolio, making the stock its 12th biggest position. Talbot Financial LLC’s holdings in AbbVie were worth $17,150,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC boosted its stake in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of AbbVie during the 2nd quarter worth approximately $204,000. GHP Investment Advisors Inc. boosted its stake in shares of AbbVie by 1.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 5,801 shares of the company’s stock worth $995,000 after acquiring an additional 90 shares during the period. Inspire Advisors LLC boosted its stake in shares of AbbVie by 4.1% during the 2nd quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock worth $264,000 after acquiring an additional 61 shares during the period. Finally, Lyell Wealth Management LP boosted its stake in shares of AbbVie by 4.0% during the 2nd quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock worth $287,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Citigroup reduced their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Five equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Performance

Shares of ABBV traded up $2.31 on Monday, reaching $177.48. 1,971,915 shares of the company’s stock traded hands, compared to its average volume of 4,624,520. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $313.63 billion, a PE ratio of 61.63, a PEG ratio of 1.92 and a beta of 0.58. The stock’s 50 day simple moving average is $178.47 and its two-hundred day simple moving average is $184.55. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the company earned $2.95 earnings per share. AbbVie’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 10.96 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 dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.70%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is 227.78%.

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 stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate 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.