Cathy Pareto & Associates Inc. Buys Shares of 1,799 AbbVie Inc. (NYSE:ABBV)

Cathy Pareto & Associates Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,799 shares of the company’s stock, valued at approximately $320,000.

Several other large investors also recently added to or reduced their stakes in the stock. Ascent Group LLC grew its holdings in shares of AbbVie by 4.5% during the 2nd quarter. Ascent Group LLC now owns 25,778 shares of the company’s stock worth $4,421,000 after purchasing an additional 1,102 shares during the period. Annandale Capital LLC grew its holdings in shares of AbbVie by 686.6% during the 2nd quarter. Annandale Capital LLC now owns 29,106 shares of the company’s stock worth $4,992,000 after purchasing an additional 25,406 shares during the period. Copperwynd Financial LLC grew its holdings in shares of AbbVie by 29.5% during the 2nd quarter. Copperwynd Financial LLC now owns 1,562 shares of the company’s stock worth $289,000 after purchasing an additional 356 shares during the period. Magnolia Capital Advisors LLC grew its holdings in shares of AbbVie by 89.5% during the 2nd 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 during the period. Finally, Silver Lake Advisory LLC lifted its stake in AbbVie by 2.6% during the 2nd quarter. Silver Lake Advisory LLC now owns 57,427 shares of the company’s stock worth $9,850,000 after acquiring an additional 1,456 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABBV shares. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Down 0.4 %

ABBV opened at $170.05 on Monday. 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 has a 50 day simple moving average of $175.84 and a 200-day simple moving average of $184.77. The stock has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The business 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 last year, the firm earned $2.95 EPS. On average, equities analysts anticipate 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 issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.86%. AbbVie’s payout ratio is currently 227.78%.

Insider Buying and Selling

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