Pine Haven Investment Counsel Inc Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Pine Haven Investment Counsel Inc increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,347 shares of the company’s stock after acquiring an additional 245 shares during the quarter. AbbVie comprises about 2.7% of Pine Haven Investment Counsel Inc’s investment portfolio, making the stock its 6th biggest holding. Pine Haven Investment Counsel Inc’s holdings in AbbVie were worth $3,260,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie in the third quarter worth $999,000. Saturna Capital Corp boosted its stake in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. grew 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 purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its stake in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABBV. UBS Group raised their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Price Performance

NYSE ABBV opened at $171.49 on Monday. The business’s fifty day moving average is $175.78 and its 200 day moving average is $184.75. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $303.05 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie’s dividend payout ratio is 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.