Courier Capital LLC Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Courier Capital LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,012 shares of the company’s stock after acquiring an additional 219 shares during the period. Courier Capital LLC’s holdings in AbbVie were worth $2,668,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parisi Gray Wealth Management boosted its stake in shares of AbbVie by 6.9% during the 4th quarter. Parisi Gray Wealth Management now owns 4,022 shares of the company’s stock worth $715,000 after purchasing an additional 261 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in shares of AbbVie by 37.9% during the 4th quarter. Miracle Mile Advisors LLC now owns 44,002 shares of the company’s stock valued at $7,819,000 after acquiring an additional 12,085 shares during the last quarter. Horizon Wealth Management LLC grew its holdings in AbbVie by 4.6% in the fourth quarter. Horizon Wealth Management LLC now owns 3,625 shares of the company’s stock valued at $644,000 after purchasing an additional 158 shares during the period. Elevated Capital Advisors LLC boosted its holdings in shares of AbbVie by 11.8% in the 4th quarter. Elevated Capital Advisors LLC now owns 13,089 shares of the company’s stock valued at $2,326,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Eastern Bank increased its holdings in shares of AbbVie by 36.7% during the 4th quarter. Eastern Bank now owns 290,164 shares of the company’s stock worth $51,562,000 after buying an additional 77,889 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 1.0 %

ABBV opened at $176.94 on Tuesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $312.68 billion, a PE ratio of 61.44, a P/E/G ratio of 1.92 and a beta of 0.58. The firm’s fifty day moving average price is $178.00 and its 200 day moving average price is $184.61.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for 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 company’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 posted $2.95 EPS. As a group, research analysts expect 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 issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. 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 stock. Based on data from MarketBeat.com, AbbVie presently has an average 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.