AbbVie Inc. (NYSE:ABBV) Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. increased its stake in AbbVie Inc. (NYSE:ABBV) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 102,254 shares of the company’s stock after purchasing an additional 645 shares during the period. Grimes & Company Inc.’s holdings in AbbVie were worth $18,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ABBV. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the 4th quarter valued at approximately $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock opened at $170.05 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business has a 50 day simple moving average of $175.84 and a two-hundred day simple moving average of $184.66. The stock has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a PEG ratio of 1.68 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the company earned $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm 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. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. AbbVie’s dividend payout ratio is presently 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler upped their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.