AbbVie Inc. (NYSE:ABBV) is Laffer Tengler Investments Inc.’s 10th Largest Position

Laffer Tengler Investments Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,381 shares of the company’s stock after buying an additional 7,853 shares during the quarter. AbbVie makes up about 2.2% of Laffer Tengler Investments Inc.’s holdings, making the stock its 10th largest position. Laffer Tengler Investments Inc.’s holdings in AbbVie were worth $11,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. State Street Corp boosted its holdings in 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 purchasing an additional 1,267,685 shares in the last quarter. Proficio Capital Partners LLC increased its stake in AbbVie by 26,693.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after purchasing an additional 1,172,362 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new stake in AbbVie during the fourth quarter worth approximately $186,431,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 6.1% during 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 worth $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Bank of America lifted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Truist Financial raised their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five investment 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 company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $209.95.

AbbVie Trading Down 1.6 %

Shares of AbbVie stock opened at $208.12 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $367.40 billion, a price-to-earnings ratio of 86.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $215.66. The company’s 50-day simple moving average is $185.64 and its 200-day simple moving average is $187.14.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.15%. AbbVie’s payout ratio is currently 273.33%.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. Corporate insiders own 0.25% of the company’s stock.

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.