Strata Wealth Advisors LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Strata Wealth Advisors LLC bought a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,510 shares of the company's stock, valued at approximately $268,000.

A number of other large investors also recently added to or reduced their stakes in the stock. State Street Corp raised its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. FMR LLC raised its position in AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company's stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the period. Massachusetts Financial Services Co. MA raised its position in AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the period. Finally, International Assets Investment Management LLC raised its position in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.6 %

ABBV stock traded up $1.15 during mid-day trading on Friday, hitting $202.03. 5,879,957 shares of the company were exchanged, compared to its average volume of 5,370,269. The firm has a market capitalization of $356.64 billion, a P/E ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business has a fifty day simple moving average of $181.25 and a 200-day simple moving average of $186.41.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results 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 quarter last year, the firm posted $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. AbbVie's dividend payout ratio (DPR) is 273.33%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now owns 6,983 shares of the company's stock, valued at approximately $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 can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Morgan Stanley increased their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Daiwa Capital Markets cut shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Raymond James reiterated an "outperform" rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $208.35.

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.