AbbVie Inc. (NYSE:ABBV) Holdings Boosted by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,495 shares of the company’s stock after buying an additional 2,122 shares during the period. Atomi Financial Group Inc.’s holdings in AbbVie were worth $2,576,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the third quarter valued at approximately $999,000. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. lifted its stake in shares of AbbVie by 41.3% in 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 boosted its holdings in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $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% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of AbbVie stock opened at $172.41 on Wednesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month 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 firm has a market cap of $304.67 billion, a P/E ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The firm’s 50-day simple moving average is $175.72 and its 200-day simple moving average is $184.80.

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 company 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 prior year, the company posted $2.95 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.80%. AbbVie’s payout ratio is 227.78%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a report on Friday, November 22nd. Wells Fargo & Company lifted 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. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Morgan Stanley dropped their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Truist Financial lowered their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction 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.

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.