Regatta Capital Group LLC Acquires 136 Shares of AbbVie Inc. (NYSE:ABBV)

Regatta Capital Group LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,621 shares of the company’s stock after buying an additional 136 shares during the quarter. Regatta Capital Group LLC’s holdings in AbbVie were worth $2,065,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Novare Capital Management LLC lifted its holdings in shares of AbbVie by 10.1% during the 4th quarter. Novare Capital Management LLC now owns 58,192 shares of the company’s stock valued at $10,341,000 after buying an additional 5,341 shares during the period. Clarendon Private LLC purchased a new stake in AbbVie during the fourth quarter valued at $700,000. Crescent Grove Advisors LLC lifted its holdings in AbbVie by 54.0% in the fourth quarter. Crescent Grove Advisors LLC now owns 7,690 shares of the company’s stock valued at $1,367,000 after acquiring an additional 2,696 shares during the period. Marshall Financial Group LLC boosted its position in AbbVie by 7.8% in the fourth quarter. Marshall Financial Group LLC now owns 6,012 shares of the company’s stock worth $1,068,000 after purchasing an additional 435 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its stake in shares of AbbVie by 4.8% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 58,215 shares of the company’s stock valued at $10,345,000 after purchasing an additional 2,688 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $170.05 on Monday. 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. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock’s 50 day simple moving average is $175.84 and its two-hundred day simple moving average is $184.77. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal 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 $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.86%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.50.

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.