AbbVie Inc. (NYSE:ABBV) Shares Purchased by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 34.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,494 shares of the company’s stock after buying an additional 1,149 shares during the quarter. Winthrop Advisory Group LLC’s holdings in AbbVie were worth $799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Matrix Trust Co raised its position in shares of AbbVie by 3.1% during the 4th quarter. Matrix Trust Co now owns 13,839 shares of the company’s stock worth $2,459,000 after purchasing an additional 420 shares during the period. Aprio Wealth Management LLC raised its position in shares of AbbVie by 5.8% during the 4th quarter. Aprio Wealth Management LLC now owns 5,507 shares of the company’s stock worth $979,000 after purchasing an additional 301 shares during the period. Czech National Bank raised its position in shares of AbbVie by 6.5% during the 4th quarter. Czech National Bank now owns 383,151 shares of the company’s stock worth $68,086,000 after purchasing an additional 23,328 shares during the period. HBW Advisory Services LLC raised its position in shares of AbbVie by 2.7% during the 4th quarter. HBW Advisory Services LLC now owns 7,412 shares of the company’s stock worth $1,317,000 after purchasing an additional 198 shares during the period. Finally, Sage Capital Advisors llc raised its position in shares of AbbVie by 0.7% during the 4th quarter. Sage Capital Advisors llc now owns 22,616 shares of the company’s stock worth $4,019,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. BMO Capital Markets lowered 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. Truist Financial lowered their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $0.60 during trading hours on Monday, hitting $175.77. 486,059 shares of the company’s stock were exchanged, compared to its average volume of 4,404,003. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. 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 stock has a market capitalization of $310.61 billion, a price-to-earnings ratio of 61.03, a PEG ratio of 1.92 and a beta of 0.58. The company’s 50-day moving average price is $178.47 and its 200-day moving average price is $184.55.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed 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 positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.

Insider Activity

In other 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 value of $310,032.00. Following the transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.