Sky Investment Group LLC Has $7.59 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Sky Investment Group LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,715 shares of the company's stock after acquiring an additional 3,936 shares during the quarter. AbbVie makes up approximately 1.4% of Sky Investment Group LLC's holdings, making the stock its 27th biggest holding. Sky Investment Group LLC's holdings in AbbVie were worth $7,590,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GGM Financials LLC boosted its position in AbbVie by 0.7% during the third 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 boosted its holdings 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 purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. boosted its holdings 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 purchasing an additional 52 shares during the last quarter. First Citizens Financial Corp boosted its holdings in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock valued at $1,141,000 after purchasing an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its holdings in shares of AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock valued at $2,710,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $0.85 during midday trading on Tuesday, hitting $172.41. The company's stock had a trading volume of 7,535,237 shares, compared to its average volume of 5,727,181. 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's fifty day moving average price is $175.72 and its 200-day moving average price is $184.80. The firm has a market cap of $304.67 billion, a P/E ratio of 59.86, a P/E/G ratio of 1.69 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The business 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.80%. 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 227.78%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ABBV shares. Morgan Stanley decreased their price target 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. Citigroup cut their target price 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. Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, BMO Capital Markets cut their target price on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $205.50.

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.