AbbVie Inc. (NYSE:ABBV) Shares Bought by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 14.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,860 shares of the company’s stock after acquiring an additional 600 shares during the period. Duncan Williams Asset Management LLC’s holdings in AbbVie were worth $864,000 at the end of the most recent reporting period.

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

AbbVie Price Performance

Shares of AbbVie stock opened at $170.05 on Monday. The stock has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. 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 moving average price is $175.84 and its 200 day moving average price is $184.77. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm 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 represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ABBV shares. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Truist Financial cut their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

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.