AbbVie Inc. (NYSE:ABBV) Shares Bought by Atwood & Palmer Inc.

Atwood & Palmer Inc. raised its position in AbbVie Inc. (NYSE:ABBV) by 1.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 195,903 shares of the company’s stock after buying an additional 2,377 shares during the quarter. AbbVie comprises about 2.4% of Atwood & Palmer Inc.’s holdings, making the stock its 11th largest position. Atwood & Palmer Inc.’s holdings in AbbVie were worth $34,812,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $28,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $39,000. Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter worth $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup lowered their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Truist Financial lowered their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. 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, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Trading Up 0.5 %

Shares of ABBV stock opened at $172.41 on Wednesday. The firm has a market cap of $304.67 billion, a P/E ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year 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 firm’s 50-day simple moving average is $175.72 and its 200-day simple moving average is $184.80.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) 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 the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.