Strategic Financial Concepts LLC Purchases 264,347 Shares of AbbVie Inc. (NYSE:ABBV)

Strategic Financial Concepts LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 17,813.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,831 shares of the company's stock after purchasing an additional 264,347 shares during the quarter. Strategic Financial Concepts LLC's holdings in AbbVie were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of AbbVie by 1,745.0% during the 3rd 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 in the last quarter. State Street Corp boosted its stake in shares of AbbVie by 1.6% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after acquiring an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 6.1% during the 3rd 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 in the last quarter. Finally, Saturna Capital Corp boosted its stake in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently issued reports on ABBV shares. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Five 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 company. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $208.35.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

AbbVie stock traded down $0.45 during trading hours on Friday, hitting $193.00. The stock had a trading volume of 3,974,116 shares, compared to its average volume of 6,372,861. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a 50-day moving average of $178.93 and a two-hundred day moving average of $186.03. The company has a market cap of $341.05 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the firm earned $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.40%. AbbVie's payout ratio is presently 273.33%.

AbbVie 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.