9,977 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Lighthouse Wealth Management Inc.

Lighthouse Wealth Management Inc. acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 9,977 shares of the company's stock, valued at approximately $1,773,000. AbbVie comprises approximately 1.6% of Lighthouse Wealth Management Inc.'s holdings, making the stock its 12th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its holdings in 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 purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter valued at $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the fourth quarter worth $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie in the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 1.1 %

Shares of AbbVie stock traded down $2.02 during trading on Tuesday, hitting $174.88. 5,603,615 shares of the stock traded hands, compared to its average volume of 6,088,012. The stock's fifty day simple moving average is $176.05 and its 200 day simple moving average is $184.94. 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 firm has a market cap of $309.04 billion, a P/E ratio of 60.72, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.75%. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is presently 227.78%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's 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 in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 target price for the company. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a "market perform" rating and a $203.00 target price on the stock. Five 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.00.

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.