Yarger Wealth Strategies LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Yarger Wealth Strategies LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 146.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,422 shares of the company's stock after buying an additional 2,031 shares during the quarter. Yarger Wealth Strategies LLC's holdings in AbbVie were worth $608,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Groupama Asset Managment raised its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at about $28,000. 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 purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 1.3 %

Shares of NYSE:ABBV traded down $2.21 on Friday, hitting $171.49. 7,581,211 shares of the company traded hands, compared to its average volume of 4,943,678. The stock has a 50 day simple moving average of $175.78 and a 200-day simple moving average of $184.47. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company 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.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating 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 firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie's payout ratio is currently 215.28%.

Insider Activity at AbbVie

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 completion of the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. Piper Sandler Companies restated an "overweight" rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 target price on the stock. Truist Financial lowered their price target on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average 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.