Berbice Capital Management LLC Purchases Shares of 5,565 AbbVie Inc. (NYSE:ABBV)

Berbice Capital Management LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,565 shares of the company's stock, valued at approximately $989,000. AbbVie makes up approximately 0.8% of Berbice Capital Management LLC's portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Groupama Asset Managment increased its holdings in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth about $28,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the fourth quarter worth about $35,000. Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

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 shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $0.62 during trading hours on Friday, reaching $170.05. 5,584,343 shares of the stock were exchanged, compared to its average volume of 4,522,214. The firm has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. The stock's fifty day simple moving average is $175.84 and its 200 day simple moving average is $184.66. 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 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 data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping 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 firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter last year, the business earned $2.95 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is presently 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Bank of America reaffirmed a "neutral" rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Piper Sandler boosted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Guggenheim upped their target price on AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.50.

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.