Nilsine Partners LLC Has $1.71 Million Position in AbbVie Inc. (NYSE:ABBV)

Nilsine Partners LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,618 shares of the company’s stock after buying an additional 1,983 shares during the quarter. Nilsine Partners LLC’s holdings in AbbVie were worth $1,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. increased its holdings in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC boosted its holdings in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $176.90 on Tuesday. 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 Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The business has a 50 day moving average of $175.84 and a 200-day moving average of $184.89. The stock has a market cap of $312.60 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released 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. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced 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 is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. TD Cowen increased their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. UBS Group lifted their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie 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.