RoundAngle Advisors LLC Takes $1.73 Million Position in AbbVie Inc. (NYSE:ABBV)

RoundAngle Advisors LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,736 shares of the company's stock, valued at approximately $1,730,000. AbbVie makes up approximately 1.6% of RoundAngle Advisors LLC's portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Grove Bank & Trust grew its holdings in AbbVie by 2.2% during the 4th quarter. Grove Bank & Trust now owns 13,141 shares of the company's stock worth $2,335,000 after acquiring an additional 282 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in AbbVie during the 4th quarter worth approximately $1,054,000. Cambridge Advisors Inc. raised its holdings in AbbVie by 1.2% during the 4th quarter. Cambridge Advisors Inc. now owns 8,879 shares of the company's stock worth $1,578,000 after buying an additional 104 shares during the period. Artemis Investment Management LLP boosted its stake in AbbVie by 633.2% in the 4th quarter. Artemis Investment Management LLP now owns 483,827 shares of the company's stock worth $85,976,000 after purchasing an additional 417,839 shares during the period. Finally, Kelly Financial Services LLC increased its holdings in AbbVie by 7.5% during the 4th quarter. Kelly Financial Services LLC now owns 1,497 shares of the company's stock worth $266,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price objective on AbbVie to $195.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. 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. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Finally, BMO Capital Markets cut their price objective on AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.50.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $2.21 during trading on Monday, reaching $171.49. The company had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. The company has a fifty day moving average of $175.78 and a two-hundred day moving average of $184.75. 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 stock has a market capitalization 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 Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Wednesday, January 15th. AbbVie's dividend payout ratio is currently 215.28%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

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.