Financial & Tax Architects LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Financial & Tax Architects LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 37,082 shares of the company’s stock after acquiring an additional 1,662 shares during the quarter. AbbVie makes up approximately 1.7% of Financial & Tax Architects LLC’s holdings, making the stock its 19th largest holding. Financial & Tax Architects LLC’s holdings in AbbVie were worth $6,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter worth $39,000. Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of AbbVie in the 3rd quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction 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 trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABBV shares. 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 report on Friday, November 22nd. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Truist Financial decreased their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Price Performance

AbbVie stock opened at $171.49 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The company has a 50-day moving average price of $175.78 and a 200 day moving average price of $184.60. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating 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 net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, January 15th. 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 3.83%. AbbVie’s dividend payout ratio is currently 215.28%.

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.