Boyd Watterson Asset Management LLC OH Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Boyd Watterson Asset Management LLC OH raised its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,884 shares of the company’s stock after purchasing an additional 586 shares during the quarter. AbbVie accounts for 1.3% of Boyd Watterson Asset Management LLC OH’s investment portfolio, making the stock its 19th biggest holding. Boyd Watterson Asset Management LLC OH’s holdings in AbbVie were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Greystone Financial Group LLC purchased a new position in AbbVie in the 4th quarter valued at $606,000. Hudson Edge Investment Partners Inc. lifted its stake in shares of AbbVie by 17.0% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 39,324 shares of the company’s stock worth $6,988,000 after acquiring an additional 5,713 shares during the period. Blackston Financial Advisory Group LLC boosted its holdings in shares of AbbVie by 2.5% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 4,828 shares of the company’s stock valued at $858,000 after acquiring an additional 117 shares in the last quarter. Capital Advisory Group Advisory Services LLC increased its stake in shares of AbbVie by 5.8% during the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 8,362 shares of the company’s stock worth $1,486,000 after acquiring an additional 461 shares during the period. Finally, Paradigm Asset Management Co. LLC raised its holdings in AbbVie by 18.0% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 14,400 shares of the company’s stock worth $2,559,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $202.03 on Friday. The stock has a market capitalization of $356.64 billion, a price-to-earnings ratio of 84.18, a price-to-earnings-growth ratio of 1.58 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock’s fifty day simple moving average is $180.68 and its 200-day simple moving average is $186.29.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business earned $2.79 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Bank of America restated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

View Our Latest Stock Analysis on ABBV

AbbVie Company Profile

(Free Report)

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.

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