Jamison Private Wealth Management Inc. Buys 2,688 Shares of AbbVie Inc. (NYSE:ABBV)

Jamison Private Wealth Management Inc. increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,215 shares of the company's stock after acquiring an additional 2,688 shares during the quarter. AbbVie comprises 1.5% of Jamison Private Wealth Management Inc.'s holdings, making the stock its 18th largest holding. Jamison Private Wealth Management Inc.'s holdings in AbbVie were worth $10,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ABBV. Asio Capital LLC raised its position in shares of AbbVie by 2.2% in the 4th quarter. Asio Capital LLC now owns 5,192 shares of the company's stock worth $923,000 after acquiring an additional 113 shares in the last quarter. Duncan Williams Asset Management LLC lifted its stake in AbbVie by 14.1% in the fourth quarter. Duncan Williams Asset Management LLC now owns 4,860 shares of the company's stock valued at $864,000 after buying an additional 600 shares during the period. Precedent Wealth Partners LLC boosted its holdings in shares of AbbVie by 4.3% during the 4th quarter. Precedent Wealth Partners LLC now owns 9,222 shares of the company's stock worth $1,639,000 after buying an additional 383 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of AbbVie by 0.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 33,052 shares of the company's stock valued at $5,873,000 after acquiring an additional 173 shares in the last quarter. Finally, Advocate Group LLC lifted its position in shares of AbbVie by 0.8% during the 4th quarter. Advocate Group LLC now owns 77,946 shares of the company's stock valued at $13,851,000 after acquiring an additional 652 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. Leerink Partnrs raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Barclays raised their price objective on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. BMO Capital Markets lowered their target price on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of AbbVie to $195.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.50.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $6.60 during mid-day trading on Monday, reaching $176.90. 6,984,200 shares of the company's stock were exchanged, compared to its average volume of 6,118,210. The firm has a 50-day moving average price of $175.84 and a two-hundred day moving average price of $184.89. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $312.60 billion, a price-to-earnings ratio of 61.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

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, 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 business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie's payout ratio is presently 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.