AbbVie Inc. (NYSE:ABBV) Stake Boosted by B & T Capital Management DBA Alpha Capital Management

B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,641 shares of the company’s stock after purchasing an additional 419 shares during the quarter. B & T Capital Management DBA Alpha Capital Management’s holdings in AbbVie were worth $4,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter valued at $35,000. Brooklyn Investment Group lifted its position in AbbVie by 29.6% in the 4th quarter. Brooklyn Investment Group now owns 15,338 shares of the company’s stock valued at $2,725,000 after purchasing an additional 3,502 shares during the last quarter. Whitener Capital Management Inc. grew its position in AbbVie by 0.8% in the 4th quarter. Whitener Capital Management Inc. now owns 38,266 shares of the company’s stock worth $6,800,000 after purchasing an additional 309 shares during the last quarter. Helen Stephens Group LLC grew its position in AbbVie by 4.7% in the 4th quarter. Helen Stephens Group LLC now owns 1,369 shares of the company’s stock worth $243,000 after purchasing an additional 61 shares during the last quarter. Finally, Sax Wealth Advisors LLC raised its holdings in shares of AbbVie by 14.0% during the fourth quarter. Sax Wealth Advisors LLC now owns 6,594 shares of the company’s stock valued at $1,172,000 after buying an additional 810 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. UBS Group increased their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Five 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.3 %

NYSE ABBV opened at $171.49 on Friday. The firm’s 50 day moving average price is $175.78 and its two-hundred day moving average price is $184.47. The stock has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

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

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

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.