Lake Street Private Wealth LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Lake Street Private Wealth LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,110 shares of the company's stock after acquiring an additional 3,320 shares during the quarter. Lake Street Private Wealth LLC's holdings in AbbVie were worth $5,706,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ABBV. Groupama Asset Managment grew its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Quest Partners LLC grew its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after buying an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.3 %

Shares of NYSE ABBV traded down $2.21 during trading hours on Friday, hitting $171.49. The company's stock had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. 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 stock has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The business has a 50-day simple moving average of $175.78 and a 200-day simple moving average of $184.47.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (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 during the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the business earned $2.95 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.83%. This is an increase from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is currently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent research reports. Truist Financial reduced their price target on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Finally, Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Five 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's stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.50.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated Monday, December 16th. The shares were 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 approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

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.