Campbell Newman Asset Management Inc. Cuts Stock Position in AbbVie Inc. (NYSE:ABBV)

Campbell Newman Asset Management Inc. reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,808 shares of the company's stock after selling 12,191 shares during the period. AbbVie comprises about 2.3% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 17th biggest holding. Campbell Newman Asset Management Inc.'s holdings in AbbVie were worth $29,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the third quarter valued at approximately $999,000. Saturna Capital Corp grew its stake in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after acquiring an additional 560,808 shares during the period. Everence Capital Management Inc. increased its holdings in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC raised its position in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after purchasing an additional 10,768 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

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 value of $310,032.00. Following the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

AbbVie Trading Up 1.4 %

Shares of AbbVie stock traded up $2.33 during mid-day trading on Thursday, hitting $173.68. The stock had a trading volume of 5,228,250 shares, compared to its average volume of 5,333,275. The firm has a 50-day moving average of $176.88 and a two-hundred day moving average of $184.54. The firm has a market cap of $306.91 billion, a P/E ratio of 60.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same period in the prior year, the business posted $2.95 earnings per share. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, January 15th. AbbVie's payout ratio is 215.28%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Argus raised shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective for the company. UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Finally, TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a report on Monday, October 7th. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target 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.