Old Port Advisors Purchases 64 Shares of AbbVie Inc. (NYSE:ABBV)

Old Port Advisors grew its position in AbbVie Inc. (NYSE:ABBV) by 5.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,190 shares of the company’s stock after purchasing an additional 64 shares during the period. Old Port Advisors’ holdings in AbbVie were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Legacy Wealth Management LLC MS bought a new stake in AbbVie in the 3rd quarter valued at about $321,000. Birmingham Capital Management Co. Inc. AL raised its position in shares of AbbVie by 3.0% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 30,622 shares of the company’s stock valued at $6,047,000 after buying an additional 900 shares in the last quarter. DGS Capital Management LLC boosted its stake in shares of AbbVie by 12.4% in the third quarter. DGS Capital Management LLC now owns 3,361 shares of the company’s stock valued at $664,000 after buying an additional 371 shares during the period. Copley Financial Group Inc. bought a new position in AbbVie during the 3rd quarter worth $489,000. Finally, Oddo BHF Asset Management Sas acquired a new position in AbbVie in the 3rd quarter valued at $4,768,000. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $179.44 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm has a market cap of $317.10 billion, a PE ratio of 62.31, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The firm’s fifty day moving average is $180.53 and its 200-day moving average is $184.05.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. Sell-side analysts predict that AbbVie Inc. will post 10.96 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. Shareholders 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 yield of 3.66%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Wells Fargo & Company increased their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Truist Financial increased their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

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.