Octavia Wealth Advisors LLC Acquires 84 Shares of AbbVie Inc. (NYSE:ABBV)

Octavia Wealth Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 2.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,766 shares of the company’s stock after buying an additional 84 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in AbbVie were worth $669,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie during the 3rd quarter valued at $999,000. Saturna Capital Corp increased its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the period. Everence Capital Management Inc. raised its stake in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC lifted its holdings in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ABBV. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. UBS Group increased their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $205.50.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 2.0 %

NYSE ABBV opened at $169.19 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $298.98 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The stock’s 50-day moving average price is $175.75 and its 200-day moving average price is $184.84.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.95 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm 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 is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.88%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.