Baker Tilly Wealth Management LLC Boosts Position in AbbVie Inc. (NYSE:ABBV)

Baker Tilly Wealth Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,890 shares of the company’s stock after purchasing an additional 94 shares during the period. Baker Tilly Wealth Management LLC’s holdings in AbbVie were worth $691,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the period. American Century Companies Inc. raised its stake in AbbVie by 8.8% during the 2nd quarter. American Century Companies Inc. now owns 2,897,649 shares of the company’s stock worth $497,005,000 after acquiring an additional 235,348 shares during the period. Jupiter Asset Management Ltd. purchased a new position in AbbVie during the second quarter valued at approximately $204,000. Y.D. More Investments Ltd boosted its position in shares of AbbVie by 206.2% in the second quarter. Y.D. More Investments Ltd now owns 1,133 shares of the company’s stock worth $194,000 after purchasing an additional 763 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in shares of AbbVie by 5.9% in the second quarter. Achmea Investment Management B.V. now owns 326,625 shares of the company’s stock worth $56,023,000 after purchasing an additional 18,304 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 1.3 %

Shares of NYSE ABBV traded down $2.26 during midday trading on Friday, reaching $176.24. 1,215,088 shares of the company’s stock traded hands, compared to its average volume of 4,366,336. The company has a market cap of $311.44 billion, a price-to-earnings ratio of 61.19, a P/E/G ratio of 1.92 and a beta of 0.58. The stock’s 50 day simple moving average is $179.04 and its 200-day simple moving average is $184.34. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

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

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.72%. 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 payout ratio is 227.78%.

Insider Activity at AbbVie

In other 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 transaction of $310,032.00. Following the sale, the senior vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABBV. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

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.