JGP Wealth Management LLC Has $3.18 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

JGP Wealth Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,917 shares of the company’s stock after buying an additional 248 shares during the period. JGP Wealth Management LLC’s holdings in AbbVie were worth $3,184,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% during 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 in the last quarter. Carolinas Wealth Consulting LLC raised its stake in AbbVie by 27.2% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 10,247 shares of the company’s stock worth $1,758,000 after buying an additional 2,189 shares during the period. Altrius Capital Management Inc raised its stake in shares of AbbVie by 5.9% in the second quarter. Altrius Capital Management Inc now owns 26,014 shares of the company’s stock worth $4,462,000 after purchasing an additional 1,453 shares during the last quarter. Miramar Capital LLC increased its position in shares of AbbVie by 0.7% during the second quarter. Miramar Capital LLC now owns 102,841 shares of the company’s stock valued at $17,639,000 after acquiring an additional 764 shares during the last quarter. Finally, Concorde Asset Management LLC increased its position in shares of AbbVie by 2.6% during the second quarter. Concorde Asset Management LLC now owns 3,151 shares of the company’s stock valued at $540,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $173.68 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. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a market capitalization of $306.91 billion, a price-to-earnings ratio of 60.30, a PEG ratio of 1.73 and a beta of 0.58. The firm has a 50-day moving average of $176.88 and a two-hundred day moving average of $184.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company 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%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.78%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 sale, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Truist Financial cut their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.