Pallas Capital Advisors LLC Has $5.31 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Pallas Capital Advisors LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,864 shares of the company’s stock after selling 236 shares during the period. Pallas Capital Advisors LLC’s holdings in AbbVie were worth $5,307,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ABBV. Quest Partners LLC grew its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Inspire Advisors LLC grew its position in AbbVie by 4.1% in the second quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock valued at $264,000 after acquiring an additional 61 shares during the period. Lyell Wealth Management LP raised its stake in AbbVie by 4.0% during the second quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock worth $287,000 after acquiring an additional 64 shares in the last quarter. Quilter Plc lifted its holdings in shares of AbbVie by 14.7% during the second quarter. Quilter Plc now owns 7,803 shares of the company’s stock valued at $1,338,000 after acquiring an additional 1,000 shares during the period. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of AbbVie in the 2nd quarter valued at $149,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 1.0 %

Shares of AbbVie stock opened at $176.94 on Tuesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The business has a fifty day simple moving average of $178.00 and a 200 day simple moving average of $184.61. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market cap of $312.68 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. Research analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated 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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ABBV shares. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Citigroup cut their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five 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 company’s stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie 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.