Secure Asset Management LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Secure Asset Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,541 shares of the company’s stock after purchasing an additional 1,337 shares during the quarter. Secure Asset Management LLC’s holdings in AbbVie were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company upped their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Citigroup lowered their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America reiterated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Five 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

View Our Latest Stock Report on ABBV

AbbVie Trading Up 0.7 %

AbbVie stock opened at $170.42 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business’s fifty day moving average is $175.72 and its 200 day moving average is $184.73. The stock has a market capitalization of $301.15 billion, a PE ratio of 59.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm posted $2.95 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.85%. AbbVie’s payout ratio is currently 227.78%.

AbbVie Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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