Guinness Atkinson Asset Management Inc Has $1.21 Million Stake in AbbVie Inc. (NYSE:ABBV)

Guinness Atkinson Asset Management Inc raised its holdings in AbbVie Inc. (NYSE:ABBV) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,804 shares of the company’s stock after purchasing an additional 1,287 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in AbbVie were worth $1,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. Westwood Holdings Group Inc. raised its position in shares of AbbVie by 1.2% during the second quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock worth $1,952,000 after purchasing an additional 130 shares during the period. Gabelli Funds LLC lifted its stake in AbbVie by 0.3% in the second quarter. Gabelli Funds LLC now owns 139,900 shares of the company’s stock valued at $23,996,000 after buying an additional 350 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $86,000. EverSource Wealth Advisors LLC increased its position in shares of AbbVie by 27.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,662 shares of the company’s stock worth $1,605,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. raised its holdings in shares of AbbVie by 11.0% during the second quarter. Nippon Life Global Investors Americas Inc. now owns 59,360 shares of the company’s stock worth $10,181,000 after acquiring an additional 5,900 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $171.49 on Tuesday. 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 business has a 50-day simple moving average of $175.78 and a 200 day simple moving average of $184.75. The firm has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the firm earned $2.95 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared 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 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 6,983 shares in the company, 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. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Truist Financial cut their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley decreased their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

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.