2,040 Shares in AbbVie Inc. $ABBV Acquired by DMKC Advisory Services LLC

DMKC Advisory Services LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the third quarter, HoldingsChannel.com reports. The fund bought 2,040 shares of the company’s stock, valued at approximately $534,000.

Several other large investors also recently bought and sold shares of ABBV. Burk Holdings LLC bought a new position in AbbVie during the second quarter valued at $30,000. Marquette Asset Management LLC grew its stake in shares of AbbVie by 52.2% in the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after buying an additional 48 shares in the last quarter. IMG Wealth Management Inc. grew its stake in shares of AbbVie by 3,060.0% in the 2nd quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock worth $40,000 after buying an additional 153 shares in the last quarter. Principia Wealth Advisory LLC grew its stake in shares of AbbVie by 38.9% in the 2nd quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Finally, Tacita Capital Inc bought a new stake in shares of AbbVie in the 2nd quarter worth about $42,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Citigroup upped their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Piper Sandler lifted their price target on AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Barclays lifted their price target on AbbVie from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Weiss Ratings raised AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Bank of America restated a “buy” rating on shares of AbbVie in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.46.

AbbVie Stock Up 0.5%

Shares of ABBV opened at $292.87 on Tuesday. The business has a fifty day moving average of $272.71 and a 200 day moving average of $239.42. The company has a market cap of $517.69 billion, a PE ratio of 50.41, a P/E/G ratio of 1.34 and a beta of 0.20. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $302.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. The business had revenue of $17.40 billion for the quarter, compared to analysts’ expectations of $17.32 billion. During the same quarter in the previous year, the business posted $1.86 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 13.99 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, January 15th. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio is presently 119.10%.

About AbbVie

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas.

Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

AbbVie was established in 2013 as a spin-off from Abbott Laboratories and is headquartered in North Chicago, Illinois.