Wolff Wiese Magana LLC Acquires 1,750 Shares of AbbVie Inc. (NYSE:ABBV)

Wolff Wiese Magana LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,097 shares of the company’s stock after acquiring an additional 1,750 shares during the quarter. AbbVie makes up approximately 2.1% of Wolff Wiese Magana LLC’s holdings, making the stock its 8th biggest holding. Wolff Wiese Magana LLC’s holdings in AbbVie were worth $3,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Smith Anglin Financial LLC grew its position in AbbVie by 5.3% in the 4th quarter. Smith Anglin Financial LLC now owns 3,976 shares of the company’s stock valued at $707,000 after buying an additional 199 shares in the last quarter. Meyer Handelman Co. lifted its stake in shares of AbbVie by 1.1% in the 4th quarter. Meyer Handelman Co. now owns 154,861 shares of the company’s stock worth $27,519,000 after acquiring an additional 1,621 shares during the period. Founders Grove Wealth Partners LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $423,000. Moseley Investment Management Inc. increased its stake in shares of AbbVie by 1.5% during the fourth quarter. Moseley Investment Management Inc. now owns 7,883 shares of the company’s stock valued at $1,401,000 after acquiring an additional 120 shares during the period. Finally, M. Kraus & Co raised its holdings in AbbVie by 0.9% during the fourth quarter. M. Kraus & Co now owns 40,514 shares of the company’s stock worth $7,199,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ABBV shares. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley lowered their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Finally, Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five investment 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, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Trading Down 2.4 %

AbbVie stock opened at $171.32 on Thursday. 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 business’s 50-day simple moving average is $177.47 and its 200-day simple moving average is $184.63. The firm has a market capitalization of $302.75 billion, a PE ratio of 59.49, a PEG ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

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 stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

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.