Zhang Financial LLC Purchases 5,926 Shares of AbbVie Inc. (NYSE:ABBV)

Zhang Financial LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 45.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,930 shares of the company's stock after buying an additional 5,926 shares during the quarter. Zhang Financial LLC's holdings in AbbVie were worth $3,364,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABBV. Guinness Atkinson Asset Management Inc increased its holdings in AbbVie by 23.3% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,804 shares of the company's stock worth $1,209,000 after buying an additional 1,287 shares during the last quarter. Guinness Asset Management LTD increased its stake in shares of AbbVie by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,220,377 shares of the company's stock worth $216,772,000 after purchasing an additional 60,598 shares during the last quarter. Corundum Group Inc. raised its holdings in shares of AbbVie by 82.8% in the 4th quarter. Corundum Group Inc. now owns 9,181 shares of the company's stock valued at $1,631,000 after purchasing an additional 4,159 shares during the period. FLC Capital Advisors lifted its stake in AbbVie by 2.8% in the 4th quarter. FLC Capital Advisors now owns 4,907 shares of the company's stock valued at $872,000 after purchasing an additional 135 shares during the last quarter. Finally, Stokes Capital Advisors LLC grew its holdings in AbbVie by 4.5% during the fourth quarter. Stokes Capital Advisors LLC now owns 36,701 shares of the company's stock worth $6,522,000 after purchasing an additional 1,594 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock traded up $0.85 during mid-day trading on Tuesday, reaching $172.41. The company had a trading volume of 4,904,383 shares, compared to its average volume of 5,479,877. The business has a fifty day simple moving average of $175.72 and a 200 day simple moving average of $184.80. The company has a market cap of $304.67 billion, a P/E ratio of 59.86, a P/E/G ratio of 1.69 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping 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 company had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same period in the previous year, the business posted $2.95 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict 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. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost 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 dividend yield of 3.80%. AbbVie's dividend payout ratio is presently 227.78%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 target price on the stock. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average price target of $205.50.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.

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.