Eclectic Associates Inc. ADV Buys 4,756 Shares of AbbVie Inc. (NYSE:ABBV)

Eclectic Associates Inc. ADV increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 454.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,803 shares of the company's stock after purchasing an additional 4,756 shares during the period. Eclectic Associates Inc. ADV's holdings in AbbVie were worth $1,031,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Groupama Asset Managment boosted its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the third quarter worth approximately $28,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $0.62 during trading on Friday, hitting $170.05. 5,584,343 shares of the company were exchanged, compared to its average volume of 4,522,214. The business's 50 day moving average is $175.84 and its 200-day moving average is $184.77. The company has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 earnings per share. Equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. AbbVie's payout ratio is currently 227.78%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Guggenheim boosted their price target on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target for the company. Finally, Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Five 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. Based on data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $205.50.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction on Monday, December 16th. The shares were 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 of the company's stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

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.