1,419 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Cvfg LLC

Cvfg LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,419 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Atlanta Consulting Group Advisors LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at about $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% in 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 during the period. Everence Capital Management Inc. boosted its position in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Citigroup dropped their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Price Performance

NYSE ABBV opened at $173.68 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market cap of $306.91 billion, a price-to-earnings ratio of 60.30, a PEG ratio of 1.73 and a beta of 0.58. The company’s 50 day moving average is $176.88 and its two-hundred day moving average is $184.54.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 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 firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the firm earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.78%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

About AbbVie

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.