AbbVie Inc. (NYSE:ABBV) Shares Bought by Old Port Advisors

Old Port Advisors lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,190 shares of the company’s stock after buying an additional 64 shares during the period. Old Port Advisors’ holdings in AbbVie were worth $212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GGM Financials LLC increased its holdings in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after acquiring an additional 52 shares during the period. Frisch Financial Group Inc. boosted its stake in AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp raised its holdings in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABBV shares. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, Citigroup cut their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Five research 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 company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $179.44 on Friday. The stock has a market capitalization of $317.10 billion, a PE ratio of 62.31, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a fifty day simple moving average of $180.53 and a 200 day simple moving average of $184.05. 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 (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. On average, research analysts expect that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed 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 is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.66%. AbbVie’s dividend payout ratio is currently 227.78%.

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.