AbbVie Inc. (NYSE:ABBV) Shares Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 136,913 shares of the company’s stock after acquiring an additional 954 shares during the period. AbbVie accounts for about 1.6% of Cyndeo Wealth Partners LLC’s holdings, making the stock its 6th biggest position. Cyndeo Wealth Partners LLC’s holdings in AbbVie were worth $24,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. International Assets Investment Management LLC increased its stake in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the period. State Street Corp boosted its holdings in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp boosted its holdings in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $170.05 on Friday. The firm has a market cap of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. 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 company’s 50-day moving average price is $175.84 and its two-hundred day moving average price is $184.66. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. On average, analysts anticipate 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 paid 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 3.86%. AbbVie’s dividend payout ratio is presently 227.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Five equities research 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. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.