Sound Income Strategies LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,930 shares of the company's stock after buying an additional 9,358 shares during the period. AbbVie makes up approximately 1.1% of Sound Income Strategies LLC's holdings, making the stock its 29th largest position. Sound Income Strategies LLC's holdings in AbbVie were worth $17,580,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. MBB Public Markets I LLC raised its position in shares of AbbVie by 2,174.2% in the 2nd quarter. MBB Public Markets I LLC now owns 126,376 shares of the company's stock worth $21,676,000 after buying an additional 120,819 shares during the period. Marathon Capital Management boosted its holdings in AbbVie by 3.3% in the second quarter. Marathon Capital Management now owns 6,422 shares of the company's stock valued at $1,102,000 after purchasing an additional 205 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in AbbVie by 17.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,299,164 shares of the company's stock valued at $394,353,000 after acquiring an additional 334,184 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of AbbVie by 11.0% during the second quarter. Mackenzie Financial Corp now owns 2,307,363 shares of the company's stock worth $395,759,000 after purchasing an additional 227,957 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company's stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
AbbVie Trading Down 0.4 %
ABBV traded down $0.62 during midday trading on Friday, reaching $170.05. 5,584,343 shares of the company were exchanged, compared to its average volume of 4,522,214. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. The stock's 50-day simple moving average is $175.84 and its 200 day simple moving average is $184.66.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 EPS. AbbVie's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts forecast 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. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is currently 227.78%.
Analyst Ratings Changes
Several research analysts have commented on the stock. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reaffirmed a "neutral" rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. 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 research report on Tuesday, November 12th. Five equities research 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. According to data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $205.50.
Check Out Our Latest Research Report on AbbVie
Insider Activity
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction 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 completion of the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.
AbbVie Company Profile
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Free Report)
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.
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