Integrated Investment Consultants LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Integrated Investment Consultants LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 177,739 shares of the company’s stock after buying an additional 8,550 shares during the quarter. AbbVie accounts for approximately 0.7% of Integrated Investment Consultants LLC’s portfolio, making the stock its 10th largest holding. Integrated Investment Consultants LLC’s holdings in AbbVie were worth $31,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. Sei Investments Co. grew its stake in shares of AbbVie by 11.2% during the second quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock valued at $83,064,000 after buying an additional 48,722 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of AbbVie by 16.6% during the second quarter. Summit Trail Advisors LLC now owns 20,558 shares of the company’s stock valued at $3,526,000 after buying an additional 2,924 shares during the last quarter. TPG Advisors LLC bought a new position in shares of AbbVie during the second quarter valued at about $366,000. Tcwp LLC grew its stake in shares of AbbVie by 12.0% in the second quarter. Tcwp LLC now owns 2,936 shares of the company’s stock worth $504,000 after purchasing an additional 315 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of AbbVie by 1.2% in the second quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock worth $1,952,000 after purchasing an additional 130 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Price Performance

ABBV stock opened at $171.49 on Friday. The firm has a 50 day moving average price of $175.78 and a 200-day moving average price of $184.60. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The firm has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $2.95 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 10.06 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. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Insider Activity at AbbVie

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 transaction of $310,032.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

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.