Good Life Advisors LLC Acquires 1,360 Shares of AbbVie Inc. (NYSE:ABBV)

Good Life Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,097 shares of the company's stock after purchasing an additional 1,360 shares during the quarter. AbbVie makes up approximately 0.7% of Good Life Advisors LLC's holdings, making the stock its 26th biggest position. Good Life Advisors LLC's holdings in AbbVie were worth $9,258,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB bought a new stake in AbbVie in the third quarter worth $8,777,000. Swedbank AB lifted its position in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC lifted its position in shares of AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock worth $397,000 after buying an additional 339 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of AbbVie in the third quarter worth about $267,000. Finally, Horst & Graben Wealth Management LLC acquired a new stake in shares of AbbVie in the third quarter worth about $226,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Daiwa Capital Markets cut AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Argus raised AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company's stock.

AbbVie Price Performance

Shares of ABBV stock traded up $1.15 during trading hours on Friday, hitting $202.03. The company had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market capitalization of $356.64 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The firm's fifty day moving average is $181.25 and its 200 day moving average is $186.41. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the business earned $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie's dividend payout ratio is currently 273.33%.

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.