AbbVie Inc. (NYSE:ABBV) Stake Boosted by Modus Advisors LLC

Modus Advisors LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,536 shares of the company’s stock after buying an additional 428 shares during the quarter. AbbVie comprises approximately 1.4% of Modus Advisors LLC’s holdings, making the stock its 28th largest position. Modus Advisors LLC’s holdings in AbbVie were worth $4,360,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Founders Financial Securities LLC increased its holdings in shares of AbbVie by 35.0% during the second quarter. Founders Financial Securities LLC now owns 6,163 shares of the company’s stock valued at $1,057,000 after purchasing an additional 1,599 shares during the period. Pursue Wealth Partners LLC bought a new stake in shares of AbbVie during the 2nd quarter worth about $224,000. FineMark National Bank & Trust raised its position in shares of AbbVie by 1.7% during the 2nd quarter. FineMark National Bank & Trust now owns 95,499 shares of the company’s stock worth $16,380,000 after buying an additional 1,613 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of AbbVie by 2.2% in the 2nd quarter. TD Asset Management Inc now owns 3,550,520 shares of the company’s stock worth $608,985,000 after acquiring an additional 76,500 shares during the period. Finally, Kapstone Financial Advisors LLC boosted its holdings in shares of AbbVie by 1.5% in the second quarter. Kapstone Financial Advisors LLC now owns 14,045 shares of the company’s stock valued at $2,409,000 after acquiring an additional 208 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.4 %

Shares of NYSE ABBV traded up $0.67 during midday trading on Friday, hitting $180.11. The stock had a trading volume of 442,465 shares, compared to its average volume of 2,201,679. The firm has a market cap of $318.28 billion, a P/E ratio of 62.54, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s 50-day simple moving average is $180.53 and its 200 day simple moving average is $184.05.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates 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%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. Research analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Citigroup cut their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Five 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

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.