AM Investment Strategies LLC Invests $720,000 in AbbVie Inc. (NYSE:ABBV)

AM Investment Strategies LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,049 shares of the company’s stock, valued at approximately $720,000.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the third quarter worth $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter worth $35,000. Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings 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 buying an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ABBV shares. Citigroup reduced their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 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. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insiders Place Their Bets

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 $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 0.4 %

AbbVie stock opened at $170.05 on Friday. The firm has a 50 day moving average price of $175.84 and a two-hundred day moving average price of $184.66. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The firm has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.86%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.