Wallace Advisory Group LLC Buys 149 Shares of AbbVie Inc. (NYSE:ABBV)

Wallace Advisory Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,868 shares of the company’s stock after buying an additional 149 shares during the quarter. Wallace Advisory Group LLC’s holdings in AbbVie were worth $510,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the 3rd quarter worth about $28,000. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $26,000. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. increased its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie during the third quarter worth $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ABBV shares. JPMorgan Chase & Co. cut their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley cut their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. 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 report on Thursday, December 5th. UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $175.46 on Wednesday. The firm’s fifty day moving average is $177.47 and its two-hundred day moving average is $184.63. The firm has a market cap of $310.06 billion, a price-to-earnings ratio of 60.92, a PEG ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. Research analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.74%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 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.