HB Wealth Management LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

HB Wealth Management LLC grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,938 shares of the company's stock after purchasing an additional 12,036 shares during the period. HB Wealth Management LLC's holdings in AbbVie were worth $19,180,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. GGM Financials LLC lifted its holdings in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock worth $1,362,000 after acquiring an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc raised its position in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock valued at $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% during the third 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 in the last quarter. First Citizens Financial Corp raised its holdings in AbbVie by 0.9% in the 3rd 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 in the last quarter. Finally, Sunflower Bank N.A. lifted its holdings in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock worth $2,710,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABBV shares. Morgan Stanley dropped their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Truist Financial dropped their price objective on AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reaffirmed a "neutral" rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective for the company. Five equities research 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.50.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $2.21 during mid-day trading on Friday, reaching $171.49. 7,581,211 shares of the company traded hands, compared to its average volume of 4,943,678. The company's 50 day moving average price is $175.78 and its 200-day moving average price is $184.60. The firm has a market cap of $303.05 billion, a PE ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 10.06 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. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. 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 payout ratio is presently 215.28%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company's stock.

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.