Charles Schwab Trust Co Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Charles Schwab Trust Co increased its stake in AbbVie Inc. (NYSE:ABBV) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 21,603 shares of the company’s stock after buying an additional 288 shares during the period. Charles Schwab Trust Co’s holdings in AbbVie were worth $3,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Groupama Asset Managment lifted its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter valued at approximately $28,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the fourth quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie during the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% during the 3rd 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. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ABBV shares. Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley decreased their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Barclays increased their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group lifted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

NYSE:ABBV opened at $172.41 on Wednesday. The business’s 50-day moving average is $175.72 and its 200 day moving average is $184.80. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a market capitalization 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. 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) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the company earned $2.95 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast 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. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.

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.