AbbVie Inc. (NYSE:ABBV) Shares Purchased by Allied Investment Advisors LLC

Allied Investment Advisors LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 44.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,840 shares of the company’s stock after acquiring an additional 565 shares during the quarter. Allied Investment Advisors LLC’s holdings in AbbVie were worth $327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ABBV. Atlas Legacy Advisors LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $287,000. Bank of Jackson Hole Trust acquired a new stake in AbbVie in the fourth quarter worth approximately $1,114,000. Callahan Advisors LLC lifted its position in AbbVie by 8.8% in the fourth quarter. Callahan Advisors LLC now owns 5,119 shares of the company’s stock worth $910,000 after purchasing an additional 414 shares during the period. Mcdonald Partners LLC boosted its stake in AbbVie by 8.5% during the 4th quarter. Mcdonald Partners LLC now owns 23,952 shares of the company’s stock valued at $4,256,000 after purchasing an additional 1,874 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of AbbVie by 7.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,337 shares of the company’s stock valued at $10,011,000 after purchasing an additional 4,040 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. Raymond James restated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.8 %

Shares of NYSE ABBV opened at $196.36 on Wednesday. The firm has a market capitalization of $347.00 billion, a PE ratio of 81.82, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. 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 business has a 50-day moving average price of $179.25 and a two-hundred day moving average price of $186.06.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 EPS. As a group, analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.