Quartz Partners LLC Purchases 272 Shares of AbbVie Inc. (NYSE:ABBV)

Quartz Partners LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,716 shares of the company’s stock after buying an additional 272 shares during the quarter. AbbVie accounts for 0.9% of Quartz Partners LLC’s portfolio, making the stock its 27th largest position. Quartz Partners LLC’s holdings in AbbVie were worth $1,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. GGM Financials LLC boosted its stake in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the last quarter. Dillon & Associates Inc. boosted its position in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. WFA Asset Management Corp increased its holdings in AbbVie by 0.8% in the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after buying an additional 55 shares in the last quarter. Physicians Financial Services Inc. raised its position in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the last quarter. Finally, Carr Financial Group Corp lifted its stake in AbbVie by 1.1% during the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after acquiring an additional 56 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have 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 for the company. in a research note on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 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 represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.6 %

Shares of ABBV stock opened at $202.03 on Monday. The stock has a fifty day simple moving average of $181.25 and a two-hundred day simple moving average of $186.41. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The firm has a market capitalization of $356.65 billion, a PE ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company posted $2.79 EPS. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s dividend payout ratio is 273.33%.

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.