Buckingham Strategic Wealth LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Buckingham Strategic Wealth LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,552 shares of the company’s stock after purchasing an additional 562 shares during the quarter. Buckingham Strategic Wealth LLC’s holdings in AbbVie were worth $7,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ABBV. Nations Financial Group Inc. IA ADV boosted its holdings in shares of AbbVie by 0.9% during the second quarter. Nations Financial Group Inc. IA ADV now owns 9,813 shares of the company’s stock worth $1,105,000 after purchasing an additional 86 shares during the last quarter. Samalin Investment Counsel LLC raised its position in AbbVie by 0.9% in the second quarter. Samalin Investment Counsel LLC now owns 10,323 shares of the company’s stock valued at $1,163,000 after purchasing an additional 88 shares during the period. Perigon Wealth Management LLC increased its position in shares of AbbVie by 0.4% during the third quarter. Perigon Wealth Management LLC now owns 20,411 shares of the company’s stock worth $2,202,000 after acquiring an additional 89 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its position in shares of AbbVie by 1.7% during the third quarter. Summit Financial Wealth Advisors LLC now owns 5,590 shares of the company’s stock worth $603,000 after acquiring an additional 91 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its position in shares of AbbVie by 1.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 6,976 shares of the company’s stock worth $786,000 after acquiring an additional 95 shares during the last quarter. 65.36% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie stock traded down $0.15 during midday trading on Friday, hitting $133.37. The company’s stock had a trading volume of 148,102 shares, compared to its average volume of 6,523,579. AbbVie Inc. has a 1-year low of $101.81 and a 1-year high of $138.15. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. The company has a 50-day moving average price of $125.40 and a two-hundred day moving average price of $117.43. The company has a market cap of $235.69 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.07 and a beta of 0.86.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, October 28th. The company reported $3.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.22 by $0.11. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The firm had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the firm posted $2.83 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 12.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Friday, January 14th will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, January 13th. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 4.23%. AbbVie’s dividend payout ratio is currently 123.81%.

ABBV has been the subject of several research analyst reports. Truist Securities boosted their price objective on AbbVie from $118.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 24th. SVB Leerink reissued a “buy” rating on shares of AbbVie in a report on Tuesday, December 7th. Truist upped their price target on AbbVie from $118.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 24th. Redburn Partners started coverage on shares of AbbVie in a research note on Thursday. They set a “buy” rating on the stock. Finally, Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Tuesday, November 23rd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $136.50.

In other news, VP Brian L. Durkin sold 11,790 shares of the firm’s stock in a transaction that occurred on Monday, December 20th. The shares were sold at an average price of $128.51, for a total value of $1,515,132.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 174,100 shares of AbbVie stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $123.23, for a total transaction of $21,454,343.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 478,364 shares of company stock worth $59,793,977. Corporate insiders own 0.09% of the company’s stock.

AbbVie Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

Further Reading: Quiet Period Expirations

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.