Tudor Financial Inc. Buys 1,772 Shares of AbbVie Inc. (NYSE:ABBV)

Tudor Financial Inc. raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 78.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,025 shares of the company's stock after purchasing an additional 1,772 shares during the quarter. Tudor Financial Inc.'s holdings in AbbVie were worth $715,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. Westwood Holdings Group Inc. boosted its stake in shares of AbbVie by 1.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company's stock worth $1,952,000 after acquiring an additional 130 shares in the last quarter. Gabelli Funds LLC boosted its position in AbbVie by 0.3% during the second quarter. Gabelli Funds LLC now owns 139,900 shares of the company's stock worth $23,996,000 after purchasing an additional 350 shares during the period. Fairscale Capital LLC acquired a new stake in shares of AbbVie in the second quarter worth $86,000. EverSource Wealth Advisors LLC lifted its stake in shares of AbbVie by 27.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,662 shares of the company's stock worth $1,605,000 after buying an additional 1,857 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. boosted its holdings in shares of AbbVie by 11.0% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 59,360 shares of the company's stock worth $10,181,000 after buying an additional 5,900 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock traded up $0.85 during mid-day trading on Tuesday, hitting $172.41. 7,548,009 shares of the company were exchanged, compared to its average volume of 5,728,405. AbbVie Inc. has a 1-year low of $153.58 and a 1-year 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 business has a fifty day moving average of $175.72 and a 200 day moving average of $184.80. The company has a market capitalization of $304.67 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $2.95 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. AbbVie's dividend payout ratio is 227.78%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABBV. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They issued an "outperform" rating and a $205.00 target price on the stock. Citigroup cut their price target on AbbVie from $226.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Finally, Bank of America reaffirmed a "neutral" rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.50.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company's stock.

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.