AbbVie Inc. (NYSE:ABBV) Shares Bought by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 54.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,690 shares of the company's stock after acquiring an additional 2,696 shares during the quarter. Crescent Grove Advisors LLC's holdings in AbbVie were worth $1,367,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Groupama Asset Managment lifted its position in shares of 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 buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. raised its position 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 purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ABBV. Piper Sandler Companies reiterated an "overweight" rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial dropped their price objective on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, October 7th. BMO Capital Markets dropped their price objective on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Finally, Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $205.50.

AbbVie Trading Up 3.9 %

ABBV stock traded up $6.60 during midday trading on Monday, reaching $176.90. 6,984,200 shares of the company's stock traded hands, compared to its average volume of 6,118,210. The company has a market capitalization of $312.60 billion, a P/E ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58. 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 business has a 50-day moving average price of $175.84 and a two-hundred day moving average price of $184.89.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 10.06 EPS 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is currently 227.78%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction 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 sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company's stock.

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.