AbbVie Inc. (NYSE:ABBV) Stock Holdings Boosted by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,378 shares of the company’s stock after acquiring an additional 588 shares during the period. AbbVie accounts for 1.4% of Mitchell & Pahl Private Wealth LLC’s portfolio, making the stock its 12th biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in AbbVie were worth $2,910,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter worth about $28,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie in the fourth quarter worth about $35,000. Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. Mizuho Securities Co. Ltd. lifted its holdings in 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 acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction 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. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.5 %

NYSE:ABBV opened at $172.41 on Wednesday. The stock’s 50 day moving average price is $175.72 and its 200 day moving average price is $184.80. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a market capitalization of $304.67 billion, a P/E ratio of 59.86, a P/E/G ratio of 1.69 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 (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.80%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Morgan Stanley cut their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. BMO Capital Markets cut their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Truist Financial cut their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. 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. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $205.50.

About AbbVie

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.