Wakefield Asset Management LLLP Has $2.03 Million Position in AbbVie Inc. (NYSE:ABBV)

Wakefield Asset Management LLLP grew its stake in AbbVie Inc. (NYSE:ABBV) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,405 shares of the company’s stock after acquiring an additional 65 shares during the period. Wakefield Asset Management LLLP’s holdings in AbbVie were worth $2,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AMF Tjanstepension AB acquired a new stake in AbbVie in the 3rd quarter valued at about $8,777,000. Swedbank AB lifted its position in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC boosted its stake in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of AbbVie by 569.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 10,182 shares of the company’s stock worth $2,011,000 after acquiring an additional 8,661 shares during the last quarter. Finally, Fiducient Advisors LLC increased its holdings in shares of AbbVie by 1.6% during the 3rd quarter. Fiducient Advisors LLC now owns 4,514 shares of the company’s stock worth $892,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Raymond James restated an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Price Performance

ABBV stock opened at $205.06 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $362.00 billion, a P/E ratio of 85.44, a P/E/G ratio of 1.62 and a beta of 0.58. The company’s 50-day moving average price is $183.75 and its two-hundred day moving average price is $186.85. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the business earned $2.79 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Activity

In related 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 in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

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.