AbbVie Inc. (NYSE:ABBV) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 257.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,561 shares of the company's stock after buying an additional 53,678 shares during the quarter. Exchange Traded Concepts LLC's holdings in AbbVie were worth $13,249,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Groupama Asset Managment lifted its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie in the 4th quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ABBV shares. Piper Sandler Companies reiterated an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Citigroup reduced their target price on shares of AbbVie from $226.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Finally, Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.50.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business'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 sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Down 0.4 %

Shares of ABBV stock traded down $0.62 during trading hours on Friday, reaching $170.05. 5,584,343 shares of the stock were exchanged, compared to its average volume of 4,522,214. The business's fifty day moving average is $175.84 and its two-hundred day moving average is $184.66. The firm has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 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 net margin of 9.22% and a return on equity of 244.01%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared 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 represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio is 227.78%.

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.