Advance Capital Management Inc. Acquires 66 Shares of AbbVie Inc. (NYSE:ABBV)

Advance Capital Management Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,318 shares of the company’s stock after purchasing an additional 66 shares during the period. Advance Capital Management Inc.’s holdings in AbbVie were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Hanlon Investment Management Inc. bought a new stake in shares of AbbVie during the second quarter valued at approximately $202,000. Los Angeles Capital Management LLC lifted its stake in shares of AbbVie by 38.6% during the second quarter. Los Angeles Capital Management LLC now owns 233,256 shares of the company’s stock worth $40,008,000 after buying an additional 64,979 shares during the period. Umpqua Bank grew its stake in AbbVie by 24.4% during the 2nd quarter. Umpqua Bank now owns 2,210 shares of the company’s stock valued at $379,000 after purchasing an additional 433 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of 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 purchasing an additional 276,946 shares during the period. Finally, Chris Bulman Inc purchased a new position in shares of AbbVie in the second quarter worth about $420,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ABBV shares. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Citigroup dropped 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. Finally, Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

AbbVie Trading Down 0.8 %

NYSE:ABBV traded down $1.39 on Monday, reaching $179.83. The company’s stock had a trading volume of 4,759,982 shares, compared to its average volume of 3,849,336. The firm has a market cap of $317.78 billion, a price-to-earnings ratio of 62.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. 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 12-month low of $153.58 and a 12-month high of $207.32. The stock has a 50 day moving average price of $180.39 and a 200 day moving average price of $184.31.

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. 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. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.95 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

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

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.