AbbVie Inc. (NYSE:ABBV) Position Boosted by Financial Management Professionals Inc.

Financial Management Professionals Inc. increased its position in AbbVie Inc. (NYSE:ABBV) by 8.6% in the fourth quarter, Holdings Channel reports. The firm owned 5,516 shares of the company’s stock after purchasing an additional 438 shares during the quarter. Financial Management Professionals Inc.’s holdings in AbbVie were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABBV. Groupama Asset Managment grew its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter worth about $28,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter worth about $35,000. Marquette Asset Management LLC acquired a new position in AbbVie in the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $171.49 on Friday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market cap of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The stock’s 50 day moving average price is $175.78 and its 200 day moving average price is $184.60. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Five investment 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 company’s stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

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.