Zhang Financial LLC Buys 5,926 Shares of AbbVie Inc. (NYSE:ABBV)

Zhang Financial LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 45.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 18,930 shares of the company’s stock after purchasing an additional 5,926 shares during the quarter. Zhang Financial LLC’s holdings in AbbVie were worth $3,364,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter valued at $28,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the fourth quarter worth $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter valued at about $39,000. Mizuho Securities Co. Ltd. increased its position in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie during the third quarter worth approximately $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.3 %

AbbVie stock opened at $171.49 on Tuesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company’s 50-day moving average price is $175.78 and its two-hundred day moving average price is $184.75. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market cap of $303.05 billion, a P/E ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced 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 company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

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

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Truist Financial dropped their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, 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 legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

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.