Tennessee Valley Asset Management Partners Sells 203 Shares of AbbVie Inc. (NYSE:ABBV)

Tennessee Valley Asset Management Partners lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,766 shares of the company’s stock after selling 203 shares during the quarter. AbbVie accounts for 0.7% of Tennessee Valley Asset Management Partners’ investment portfolio, making the stock its 25th largest position. Tennessee Valley Asset Management Partners’ holdings in AbbVie were worth $4,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment boosted 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 acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter valued at approximately $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $35,000. Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABBV shares. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a report on Friday, November 22nd. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company boosted their price target on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets lowered their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 0.4 %

Shares of NYSE ABBV opened at $170.05 on Monday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. The business’s 50 day moving average price is $175.84 and its 200-day moving average price is $184.77.

AbbVie (NYSE:ABBV) last posted its 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. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.