Octavia Wealth Advisors LLC Purchases 84 Shares of AbbVie Inc. (NYSE:ABBV)

Octavia Wealth Advisors LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,766 shares of the company’s stock after buying an additional 84 shares during the period. Octavia Wealth Advisors LLC’s holdings in AbbVie were worth $669,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ABBV. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie in the fourth quarter valued at about $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. increased its stake in shares of 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 purchasing an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Guggenheim raised their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. BMO Capital Markets lowered their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Down 2.0 %

ABBV opened at $169.19 on Thursday. The business’s fifty day simple moving average is $175.75 and its 200 day simple moving average is $184.84. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. 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 $298.98 billion, a PE ratio of 58.75, a P/E/G ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the firm posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts expect 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. 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 3.88%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insiders Place Their Bets

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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.