Allworth Financial LP Acquires 57,468 Shares of AbbVie Inc. (NYSE:ABBV)

Allworth Financial LP lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 66.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,019 shares of the company's stock after buying an additional 57,468 shares during the period. Allworth Financial LP's holdings in AbbVie were worth $24,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the 4th quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in AbbVie by 100.0% during the 3rd 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. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.5 %

Shares of ABBV traded up $1.05 during trading hours on Wednesday, reaching $197.30. The stock had a trading volume of 4,888,699 shares, compared to its average volume of 5,864,376. The firm has a 50-day moving average of $179.67 and a 200 day moving average of $186.11. 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 $348.66 billion, a P/E ratio of 82.21, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

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AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business posted $2.79 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is 273.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABBV shares. Leerink Partnrs raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Guggenheim increased their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 owns 6,983 shares in the company, valued at approximately $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 accessible through this link. 0.25% of the stock is currently owned by company 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.