Great Waters Wealth Management Has $211,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Great Waters Wealth Management trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,187 shares of the company’s stock after selling 74 shares during the quarter. Great Waters Wealth Management’s holdings in AbbVie were worth $211,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment raised its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Piper Sandler upped their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Morgan Stanley lowered their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Citigroup reduced their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Five 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $172.41 on Wednesday. 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 52 week low of $153.58 and a 52 week high of $207.32. The firm has a market cap of $304.67 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The firm’s fifty day moving average is $175.72 and its 200-day moving average is $184.80.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating 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 analyst estimates of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given 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 dividend yield of 3.80%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

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.