AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,390 shares of the company’s stock after buying an additional 18,865 shares during the quarter. AbbVie makes up about 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 17th largest holding. Parsons Capital Management Inc. RI’s holdings in AbbVie were worth $19,794,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ABBV. Magnolia Capital Advisors LLC boosted its holdings in 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 purchasing an additional 4,371 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AbbVie by 0.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock valued at $38,948,000 after buying an additional 1,843 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of AbbVie by 3.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 48,020 shares of the company’s stock worth $8,236,000 after acquiring an additional 1,622 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of AbbVie during the 2nd quarter valued at about $4,336,000. Finally, Invst LLC raised its stake in shares of AbbVie by 23.0% in the 2nd quarter. Invst LLC now owns 4,133 shares of the company’s stock valued at $704,000 after acquiring an additional 774 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ABBV shares. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Citigroup cut their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Trading Up 3.9 %

ABBV stock opened at $176.90 on Tuesday. The business has a fifty day moving average of $175.84 and a 200-day moving average of $184.89. The company has a market cap of $312.60 billion, a P/E ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month 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.

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

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.71%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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 transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.