AbbVie Inc. (NYSE:ABBV) Shares Bought by Wealth Management Partners LLC

Wealth Management Partners LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,287 shares of the company’s stock after purchasing an additional 434 shares during the period. Wealth Management Partners LLC’s holdings in AbbVie were worth $762,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Access Financial Services Inc. lifted its position in AbbVie by 1.0% in the fourth quarter. Access Financial Services Inc. now owns 7,313 shares of the company’s stock valued at $1,300,000 after purchasing an additional 75 shares during the period. Community Bank of Raymore raised its stake in shares of AbbVie by 12.3% during the 4th quarter. Community Bank of Raymore now owns 13,899 shares of the company’s stock worth $2,470,000 after buying an additional 1,520 shares in the last quarter. Willner & Heller LLC lifted its holdings in shares of AbbVie by 6.2% in the 4th quarter. Willner & Heller LLC now owns 8,448 shares of the company’s stock valued at $1,501,000 after buying an additional 491 shares during the period. Pine Haven Investment Counsel Inc boosted its stake in shares of AbbVie by 1.4% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 18,347 shares of the company’s stock valued at $3,260,000 after buying an additional 245 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in shares of AbbVie by 62.3% during the 4th quarter. Diversify Wealth Management LLC now owns 25,635 shares of the company’s stock worth $4,491,000 after purchasing an additional 9,840 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, 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 SEC, which is available through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.3 %

ABBV stock opened at $171.49 on Tuesday. The company has a market capitalization of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The firm has a 50 day simple moving average of $175.78 and a 200-day simple moving average of $184.75. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analysts Set New Price Targets

ABBV has been the topic of a number of research analyst reports. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Truist Financial dropped their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average 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.