DMKC Advisory Services LLC Purchases New Stake in AbbVie Inc. (NYSE:ABBV)

DMKC Advisory Services LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,335 shares of the company’s stock, valued at approximately $237,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.1 %

NYSE ABBV opened at $204.19 on Wednesday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock’s 50 day moving average price is $182.48 and its two-hundred day moving average price is $186.61. The stock has a market capitalization of $360.46 billion, a price-to-earnings ratio of 85.08, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. 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 stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were 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 approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.