Davies Financial Advisors Inc. Has $499,000 Position in AbbVie Inc. (NYSE:ABBV)

Davies Financial Advisors Inc. lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 19.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,807 shares of the company’s stock after selling 676 shares during the quarter. Davies Financial Advisors Inc.’s holdings in AbbVie were worth $499,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ABBV. Groupama Asset Managment grew its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. raised its stake in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. BMO Capital Markets dropped their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Wells Fargo & Company increased their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Five equities 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 stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $172.41 on Wednesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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’s 50 day simple moving average is $175.72 and its 200-day simple moving average is $184.80. The firm has a market capitalization of $304.67 billion, a price-to-earnings ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced 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 3.80%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

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.