CFS Investment Advisory Services LLC Has $4.42 Million Stake in AbbVie Inc. (NYSE:ABBV)

CFS Investment Advisory Services LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,887 shares of the company’s stock after purchasing an additional 246 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in AbbVie were worth $4,422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alethea Capital Management LLC bought a new position in AbbVie in the 2nd quarter valued at $488,000. Goodman Advisory Group LLC boosted its holdings in AbbVie by 3,909.8% in the second quarter. Goodman Advisory Group LLC now owns 13,914 shares of the company’s stock valued at $2,387,000 after acquiring an additional 13,567 shares during the last quarter. Ascent Group LLC increased its position in AbbVie by 4.5% in the second quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock worth $4,421,000 after purchasing an additional 1,102 shares during the period. Annandale Capital LLC raised its holdings in AbbVie by 686.6% during the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock worth $4,992,000 after purchasing an additional 25,406 shares during the last quarter. Finally, Copperwynd Financial LLC lifted its position in AbbVie by 29.5% during the 2nd quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock valued at $289,000 after purchasing an additional 356 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $170.05 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The stock’s 50-day moving average is $175.84 and its 200-day moving average is $184.66. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 EPS. Equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price 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.