MinichMacGregor Wealth Management LLC Has $450,000 Position in AbbVie Inc. (NYSE:ABBV)

MinichMacGregor Wealth Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 49.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,531 shares of the company’s stock after buying an additional 840 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in AbbVie were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. APG Asset Management US Inc. grew its position in AbbVie by 10.5% in the second quarter. APG Asset Management US Inc. now owns 558,327 shares of the company’s stock worth $95,122,000 after acquiring an additional 53,265 shares in the last quarter. APG Asset Management N.V. boosted its holdings in AbbVie by 0.9% in the second quarter. APG Asset Management N.V. now owns 1,751,073 shares of the company’s stock worth $280,237,000 after purchasing an additional 15,962 shares in the last quarter. Delta Investment Management LLC increased its position in AbbVie by 4.2% during the second quarter. Delta Investment Management LLC now owns 3,788 shares of the company’s stock worth $650,000 after buying an additional 154 shares during the last quarter. Daymark Wealth Partners LLC raised its holdings in AbbVie by 79.5% during the second quarter. Daymark Wealth Partners LLC now owns 76,748 shares of the company’s stock valued at $13,164,000 after buying an additional 33,981 shares in the last quarter. Finally, MBB Public Markets I LLC boosted its stake in shares of AbbVie by 2,174.2% during the 2nd quarter. MBB Public Markets I LLC now owns 126,376 shares of the company’s stock worth $21,676,000 after acquiring an additional 120,819 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock opened at $170.42 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a market cap of $301.15 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The firm’s 50-day simple moving average is $175.72 and its 200-day simple moving average is $184.73.

AbbVie (NYSE:ABBV) last released 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. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The business 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. 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 dividend yield of 3.85%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. BMO Capital Markets decreased their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial lowered their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five investment 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. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

About AbbVie

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.