AbbVie Inc. (NYSE:ABBV) Shares Sold by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,441 shares of the company’s stock after selling 106 shares during the period. Burns J W & Co. Inc. NY’s holdings in AbbVie were worth $5,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the 3rd quarter worth about $28,000. Fairway Wealth LLC purchased a new position in shares of AbbVie in the second quarter valued at approximately $26,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. boosted its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.0 %

Shares of NYSE ABBV opened at $176.94 on Tuesday. 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 capitalization of $312.68 billion, a PE ratio of 61.44, a PEG ratio of 1.92 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 stock has a fifty day simple moving average of $178.00 and a 200-day simple moving average of $184.61.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. On average, equities analysts forecast that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. 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 yield of 3.71%. AbbVie’s dividend payout ratio is 227.78%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.