Union Savings Bank Sells 75 Shares of AbbVie Inc. (NYSE:ABBV)

Union Savings Bank lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,044 shares of the company’s stock after selling 75 shares during the period. Union Savings Bank’s holdings in AbbVie were worth $896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABBV. Cove Private Wealth LLC boosted its position in shares of AbbVie by 4.5% during the fourth quarter. Cove Private Wealth LLC now owns 2,873 shares of the company’s stock valued at $511,000 after buying an additional 123 shares during the last quarter. Zhang Financial LLC raised its position in AbbVie by 45.6% in the 4th quarter. Zhang Financial LLC now owns 18,930 shares of the company’s stock worth $3,364,000 after buying an additional 5,926 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its stake in AbbVie by 23.3% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 6,804 shares of the company’s stock valued at $1,209,000 after acquiring an additional 1,287 shares during the period. Guinness Asset Management LTD boosted its holdings in shares of AbbVie by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,220,377 shares of the company’s stock valued at $216,772,000 after acquiring an additional 60,598 shares during the last quarter. Finally, Corundum Group Inc. grew its stake in shares of AbbVie by 82.8% in the fourth quarter. Corundum Group Inc. now owns 9,181 shares of the company’s stock worth $1,631,000 after acquiring an additional 4,159 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.3 %

NYSE ABBV opened at $171.49 on Tuesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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 stock has a market cap of $303.05 billion, a PE ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The stock’s 50 day moving average is $175.78 and its 200 day moving average is $184.75.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm 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%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.95 earnings per share. Research analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal 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 is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is currently 215.28%.

Insider Activity 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 transaction of $310,032.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ABBV. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued 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 price target of $205.50.

About AbbVie

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.