Checchi Capital Advisers LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Checchi Capital Advisers LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,353 shares of the company’s stock after purchasing an additional 61 shares during the period. Checchi Capital Advisers LLC’s holdings in AbbVie were worth $4,150,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GGM Financials LLC increased its position in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares in the last quarter. Dillon & Associates Inc. lifted its holdings in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares in the last quarter. WFA Asset Management Corp lifted its holdings in AbbVie by 0.8% in the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock valued at $1,383,000 after purchasing an additional 55 shares in the last quarter. Physicians Financial Services Inc. grew its position in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Carr Financial Group Corp raised its holdings in shares of AbbVie by 1.1% during the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after acquiring an additional 56 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Citigroup upped their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Finally, Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $208.35.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.1 %

AbbVie stock opened at $204.19 on Wednesday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market capitalization of $360.46 billion, a price-to-earnings ratio of 85.08, a PEG ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company’s 50 day simple moving average is $182.48 and its 200 day simple moving average is $186.61.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 prior year, the firm posted $2.79 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.21%. AbbVie’s payout ratio is 273.33%.

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.