AbbVie Inc. (NYSE:ABBV) Shares Bought by Channel Wealth LLC

Channel Wealth LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 87.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,428 shares of the company's stock after buying an additional 4,398 shares during the quarter. Channel Wealth LLC's holdings in AbbVie were worth $1,675,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the period. Legal & General Group Plc grew its holdings in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company's stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. FMR LLC increased its position in AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company's stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 valued at $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 purchasing an additional 373,802 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated 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 owns 6,983 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABBV shares. Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Truist Financial decreased their price target on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Five 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. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $205.50.

AbbVie Stock Performance

NYSE:ABBV traded down $2.21 during midday trading on Friday, hitting $171.49. The company's stock had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm's 50 day moving average is $175.78 and its 200-day moving average is $184.47. The firm has a market cap of $303.05 billion, a P/E ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter last year, the company posted $2.95 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie's dividend payout ratio (DPR) is presently 215.28%.

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.