Fragasso Financial Advisors Inc Has $2.27 Million Stake in AbbVie Inc. (NYSE:ABBV)

Fragasso Financial Advisors Inc grew its position in AbbVie Inc. (NYSE:ABBV) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,772 shares of the company’s stock after purchasing an additional 180 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in AbbVie were worth $2,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of AbbVie in the second quarter valued at approximately $26,000. Groupama Asset Managment increased 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 stake in AbbVie in the third quarter valued at $28,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in AbbVie during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock traded up $1.61 during mid-day trading on Monday, reaching $176.78. The company’s stock had a trading volume of 1,847,865 shares, compared to its average volume of 4,616,134. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market capitalization of $312.40 billion, a P/E ratio of 61.38, a PEG ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm’s fifty day moving average price is $178.47 and its two-hundred day moving average price is $184.55.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the business earned $2.95 EPS. AbbVie’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABBV. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Five equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Company 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.