1834 Investment Advisors Co. Has $1.68 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

1834 Investment Advisors Co. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 5.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,479 shares of the company’s stock after selling 562 shares during the quarter. 1834 Investment Advisors Co.’s holdings in AbbVie were worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC raised its holdings in shares of AbbVie by 4.5% during the second quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock valued at $4,421,000 after acquiring an additional 1,102 shares during the period. Annandale Capital LLC raised its stake in AbbVie by 686.6% during the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock valued at $4,992,000 after purchasing an additional 25,406 shares during the period. Copperwynd Financial LLC lifted its holdings in shares of AbbVie by 29.5% in the second quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock valued at $289,000 after purchasing an additional 356 shares in the last quarter. Magnolia Capital Advisors LLC boosted its position in shares of AbbVie by 89.5% in the second quarter. Magnolia Capital Advisors LLC now owns 9,256 shares of the company’s stock worth $1,588,000 after buying an additional 4,371 shares during the period. Finally, Silver Lake Advisory LLC grew its holdings in shares of AbbVie by 2.6% during the second quarter. Silver Lake Advisory LLC now owns 57,427 shares of the company’s stock valued at $9,850,000 after buying an additional 1,456 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $170.05 on Monday. The company has a market capitalization of $300.51 billion, a PE ratio of 59.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company’s fifty day moving average price is $175.84 and its 200 day moving average price is $184.77.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. 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 is currently 227.78%.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were 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 of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Daiwa Capital Markets downgraded shares of 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. JPMorgan Chase & Co. cut their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Citigroup lowered their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

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.