Brady Martz Wealth Solutions LLC Invests $1.05 Million in AbbVie Inc. (NYSE:ABBV)

Brady Martz Wealth Solutions LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,001 shares of the company's stock, valued at approximately $1,054,000.

Other large investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter worth $39,000. Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after buying an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie in the third quarter valued at $39,000. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

ABBV has been the subject of several research reports. Bank of America reaffirmed a "neutral" rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. BMO Capital Markets cut their price target on AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 target price for the company. Finally, TD Cowen boosted their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.50.

AbbVie Trading Down 1.3 %

NYSE:ABBV traded down $2.21 on Monday, reaching $171.49. The company's stock had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. 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 stock has a 50 day moving average price of $175.78 and a 200 day moving average price of $184.75. The firm has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results 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. 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 firm's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie's payout ratio is currently 215.28%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company's stock.

AbbVie Company 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.