Tealwood Asset Management Inc. Boosts Position in AbbVie Inc. (NYSE:ABBV)

Tealwood Asset Management Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,135 shares of the company’s stock after buying an additional 652 shares during the quarter. AbbVie accounts for approximately 1.3% of Tealwood Asset Management Inc.’s portfolio, making the stock its 16th biggest holding. Tealwood Asset Management Inc.’s holdings in AbbVie were worth $3,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares in the last quarter. Inspire Advisors LLC boosted its stake in AbbVie by 4.1% in the 2nd quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock worth $264,000 after purchasing an additional 61 shares during the period. Lyell Wealth Management LP grew its holdings in AbbVie by 4.0% during the 2nd quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock valued at $287,000 after buying an additional 64 shares in the last quarter. Quilter Plc lifted its stake in AbbVie by 14.7% in the 2nd quarter. Quilter Plc now owns 7,803 shares of the company’s stock worth $1,338,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of AbbVie during the second quarter valued at about $149,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

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 shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.0 %

ABBV stock opened at $176.94 on Tuesday. The firm’s 50-day moving average is $178.00 and its 200 day moving average is $184.61. 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 Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a market capitalization of $312.68 billion, a PE ratio of 61.44, a P/E/G ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share 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 during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is 227.78%.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Truist Financial reduced their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Bank of America restated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Morgan Stanley dropped their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Five equities 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.50.

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.