Dakota Wealth Management Has $7.26 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Dakota Wealth Management trimmed its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,871 shares of the company’s stock after selling 117 shares during the quarter. Dakota Wealth Management’s holdings in AbbVie were worth $7,263,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mill Creek Capital Advisors LLC boosted its holdings in shares of AbbVie by 9.2% during the second quarter. Mill Creek Capital Advisors LLC now owns 3,737 shares of the company’s stock worth $641,000 after purchasing an additional 316 shares during the period. Semmax Financial Advisors Inc. boosted its stake in shares of AbbVie by 33.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 589 shares of the company’s stock valued at $101,000 after buying an additional 146 shares during the period. NBW Capital LLC grew its holdings in shares of AbbVie by 1,167.8% during the 2nd quarter. NBW Capital LLC now owns 38,682 shares of the company’s stock valued at $6,635,000 after acquiring an additional 35,631 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in shares of AbbVie by 44.9% in the second quarter. Alpha DNA Investment Management LLC now owns 17,549 shares of the company’s stock worth $3,010,000 after acquiring an additional 5,437 shares during the last quarter. Finally, Alley Investment Management Company LLC raised its holdings in shares of AbbVie by 0.4% during the second quarter. Alley Investment Management Company LLC now owns 114,237 shares of the company’s stock worth $19,594,000 after acquiring an additional 411 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 2.0 %

NYSE ABBV opened at $169.19 on Thursday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The stock has a market cap of $298.98 billion, a PE ratio of 58.75, a PEG ratio of 1.69 and a beta of 0.58. The firm has a 50-day simple moving average of $175.75 and a 200 day simple moving average of $184.84. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. On average, research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Citigroup decreased their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company 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.