Diversify Wealth Management LLC Acquires 9,840 Shares of AbbVie Inc. (NYSE:ABBV)

Diversify Wealth Management LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 62.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,635 shares of the company's stock after buying an additional 9,840 shares during the quarter. Diversify Wealth Management LLC's holdings in AbbVie were worth $4,491,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Groupama Asset Managment lifted its holdings 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 acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter valued at approximately $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter worth $35,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of 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. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Truist Financial reduced their price target 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. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Bank of America restated a "neutral" rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $205.50.

AbbVie Trading Down 1.3 %

ABBV stock traded down $2.21 during midday trading on Monday, hitting $171.49. The stock had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business has a fifty day moving average price of $175.78 and a two-hundred day moving average price of $184.75. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market cap of $303.05 billion, a P/E 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 announced 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 the consensus estimate 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 period in the previous year, the business earned $2.95 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

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

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 sale, the senior vice president now directly 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 filing with the SEC, which can be accessed through the SEC website. Corporate 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.