Culbertson A N & Co. Inc. Has $12.57 Million Position in AbbVie Inc. (NYSE:ABBV)

Culbertson A N & Co. Inc. decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,718 shares of the company’s stock after selling 82 shares during the quarter. AbbVie accounts for 2.0% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 10th largest position. Culbertson A N & Co. Inc.’s holdings in AbbVie were worth $12,566,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares during the period. State Street Corp increased its stake in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. increased its stake in AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock worth $414,088,000 after purchasing an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the period. Finally, Saturna Capital Corp increased its stake in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ABBV shares. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Piper Sandler boosted their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Finally, Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Trading Up 0.5 %

AbbVie stock opened at $172.41 on Wednesday. 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 business’s fifty day simple moving average is $175.72 and its two-hundred day simple moving average is $184.80. 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 $304.67 billion, a price-to-earnings ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly 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 firm had revenue of $14.46 billion for 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%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm 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 dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.