Decker Retirement Planning Inc. Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Decker Retirement Planning Inc. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,079 shares of the company’s stock, valued at approximately $547,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. State Street Corp increased its position in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. Legal & General Group Plc grew its stake in AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares during the period. FMR LLC grew its stake in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABBV shares. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Citigroup decreased their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lifted their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Trading Up 1.4 %

ABBV opened at $173.68 on Friday. The stock has a market capitalization of $306.91 billion, a PE ratio of 60.30, a P/E/G ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year 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 business’s 50 day moving average price is $176.88 and its 200 day moving average price is $184.54.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The business 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%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.78%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

AbbVie Company 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.