BankPlus Wealth Management LLC Purchases New Position in AbbVie Inc. (NYSE:ABBV)

BankPlus Wealth Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,144 shares of the company's stock, valued at approximately $736,000.

A number of other institutional investors also recently modified their holdings of ABBV. State Street Corp grew its stake in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. FMR LLC increased its holdings in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company's stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV traded down $2.02 on Tuesday, hitting $174.88. 5,603,615 shares of the company traded hands, compared to its average volume of 6,088,012. The company has a market capitalization of $309.04 billion, a price-to-earnings ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business's 50 day moving average price is $176.05 and its 200-day moving average price is $184.94. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the business earned $2.95 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's payout ratio is currently 227.78%.

Insider Buying and Selling

In other AbbVie 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 transaction of $310,032.00. Following the sale, the senior vice president now directly 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 legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Five equities 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 stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $205.00.

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.