Weaver Consulting Group Has $240,000 Stake in AbbVie Inc. (NYSE:ABBV)

Weaver Consulting Group boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,349 shares of the company’s stock after buying an additional 74 shares during the quarter. Weaver Consulting Group’s holdings in AbbVie were worth $240,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC boosted its holdings in AbbVie by 10,713.6% in the second quarter. Strategic Financial Concepts LLC now owns 279,531 shares of the company’s stock valued at $479,000 after acquiring an additional 276,946 shares during the last quarter. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Liberty Wealth Management LLC boosted its stake in shares of AbbVie by 71.0% in the 2nd quarter. Liberty Wealth Management LLC now owns 11,641 shares of the company’s stock valued at $1,997,000 after purchasing an additional 4,833 shares during the last quarter. LGT Fund Management Co Ltd. acquired a new stake in shares of AbbVie during the second quarter worth $443,000. Finally, Sachetta LLC raised its stake in AbbVie by 6.1% during the second quarter. Sachetta LLC now owns 5,587 shares of the company’s stock worth $1,045,000 after buying an additional 320 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

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 shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ABBV shares. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Guggenheim boosted their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. 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 report on Tuesday, November 12th. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.70.

AbbVie Trading Down 0.3 %

Shares of AbbVie stock opened at $179.59 on Wednesday. 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 stock has a fifty day simple moving average of $180.00 and a 200 day simple moving average of $184.42. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market capitalization of $317.36 billion, a P/E ratio of 62.36, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the company posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.