Sandbox Financial Partners LLC Buys 111 Shares of AbbVie Inc. (NYSE:ABBV)

Sandbox Financial Partners LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 3,228 shares of the company’s stock after acquiring an additional 111 shares during the period. Sandbox Financial Partners LLC’s holdings in AbbVie were worth $574,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ABBV. Sei Investments Co. grew its position in AbbVie by 11.2% in the 2nd quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock valued at $83,064,000 after purchasing an additional 48,722 shares during the period. Summit Trail Advisors LLC grew its holdings 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 stake in shares of AbbVie during the second quarter worth about $366,000. Tcwp LLC raised its holdings in shares of AbbVie by 12.0% in the 2nd quarter. Tcwp LLC now owns 2,936 shares of the company’s stock worth $504,000 after acquiring an additional 315 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in AbbVie by 1.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock valued at $1,952,000 after purchasing an additional 130 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 1.3 %

Shares of NYSE ABBV opened at $171.49 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business has a 50-day moving average of $175.78 and a 200-day moving average of $184.60. 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. 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 results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.83%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America reissued a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.