Phillips Wealth Planners LLC Acquires 188 Shares of AbbVie Inc. (NYSE:ABBV)

Phillips Wealth Planners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,064 shares of the company’s stock after buying an additional 188 shares during the period. AbbVie makes up about 1.2% of Phillips Wealth Planners LLC’s investment portfolio, making the stock its 16th largest position. Phillips Wealth Planners LLC’s holdings in AbbVie were worth $1,237,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. APG Asset Management US Inc. boosted its stake in AbbVie by 10.5% in the 2nd quarter. APG Asset Management US Inc. now owns 558,327 shares of the company’s stock valued at $95,122,000 after buying an additional 53,265 shares in the last quarter. APG Asset Management N.V. raised its position in shares of AbbVie by 0.9% during the second quarter. APG Asset Management N.V. now owns 1,751,073 shares of the company’s stock worth $280,237,000 after acquiring an additional 15,962 shares during the last quarter. Delta Investment Management LLC raised its position in shares of AbbVie by 4.2% during the second quarter. Delta Investment Management LLC now owns 3,788 shares of the company’s stock worth $650,000 after acquiring an additional 154 shares during the last quarter. Daymark Wealth Partners LLC raised its position in shares of AbbVie by 79.5% during the second quarter. Daymark Wealth Partners LLC now owns 76,748 shares of the company’s stock worth $13,164,000 after acquiring an additional 33,981 shares during the last quarter. Finally, MBB Public Markets I LLC increased its holdings in AbbVie by 2,174.2% in the second quarter. MBB Public Markets I LLC now owns 126,376 shares of the company’s stock valued at $21,676,000 after purchasing an additional 120,819 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ABBV shares. Piper Sandler upped their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Citigroup decreased their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a report on Friday, November 22nd. Finally, Truist Financial decreased their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Performance

NYSE:ABBV opened at $170.42 on Friday. The stock has a market cap of $301.15 billion, a P/E ratio of 59.17, a PEG ratio of 1.71 and a beta of 0.58. The stock has a 50 day simple moving average of $175.72 and a 200 day simple moving average of $184.73. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last released 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. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $2.95 EPS. Research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.85%. AbbVie’s payout ratio is currently 227.78%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.