AbbVie Inc. (NYSE:ABBV) Shares Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,390 shares of the company's stock after purchasing an additional 18,865 shares during the quarter. AbbVie comprises approximately 1.1% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 17th largest position. Parsons Capital Management Inc. RI's holdings in AbbVie were worth $19,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Magnolia Capital Advisors LLC lifted its position in AbbVie by 89.5% in the second quarter. Magnolia Capital Advisors LLC now owns 9,256 shares of the company's stock valued at $1,588,000 after buying an additional 4,371 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AbbVie by 0.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company's stock worth $38,948,000 after acquiring an additional 1,843 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of AbbVie by 3.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 48,020 shares of the company's stock worth $8,236,000 after purchasing an additional 1,622 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in AbbVie in the 2nd quarter valued at approximately $4,336,000. Finally, Invst LLC raised its position in AbbVie by 23.0% in the second quarter. Invst LLC now owns 4,133 shares of the company's stock valued at $704,000 after purchasing an additional 774 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

NYSE ABBV traded down $2.02 during trading hours on Tuesday, hitting $174.88. The company had a trading volume of 5,603,615 shares, compared to its average volume of 6,088,012. The business has a 50 day moving average of $176.05 and a 200-day moving average of $184.94. The company has a market cap of $309.04 billion, a PE ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 analysts' expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. This is a boost 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 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Truist Financial lowered their price objective 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. Leerink Partnrs raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $205.00.

Insider Buying and Selling

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 stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

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.