AbbVie Inc. (NYSE:ABBV) is Cyndeo Wealth Partners LLC’s 6th Largest Position

Cyndeo Wealth Partners LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 136,913 shares of the company’s stock after purchasing an additional 954 shares during the period. AbbVie comprises about 1.6% of Cyndeo Wealth Partners LLC’s investment portfolio, making the stock its 6th largest position. Cyndeo Wealth Partners LLC’s holdings in AbbVie were worth $24,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. GGM Financials LLC raised its holdings in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc raised its holdings in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its holdings in AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. First Citizens Financial Corp raised its holdings in AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after buying an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. raised its holdings in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following 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 SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Performance

ABBV stock opened at $170.05 on Friday. The firm has a market cap of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 and a beta of 0.58. The firm has a 50-day simple moving average of $175.84 and a two-hundred day simple moving average of $184.66. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. 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 posted its quarterly earnings data 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. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is presently 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.