AbbVie Inc. (NYSE:ABBV) Shares Purchased by Enclave Advisors LLC

Enclave Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,452 shares of the company’s stock after buying an additional 96 shares during the period. Enclave Advisors LLC’s holdings in AbbVie were worth $613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Groupama Asset Managment grew its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $35,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.5 %

ABBV stock opened at $172.41 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a 50 day simple moving average of $175.72 and a 200-day simple moving average of $184.80. The company has a market capitalization of $304.67 billion, a P/E ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $2.95 EPS. On average, equities research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed 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 is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 227.78%.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on ABBV. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Citigroup dropped their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

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.