Radnor Capital Management LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Radnor Capital Management LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,915 shares of the company’s stock after buying an additional 2,561 shares during the quarter. AbbVie accounts for approximately 0.8% of Radnor Capital Management LLC’s holdings, making the stock its 20th biggest holding. Radnor Capital Management LLC’s holdings in AbbVie were worth $5,513,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABBV. China Universal Asset Management Co. Ltd. purchased a new position in AbbVie during the 1st quarter valued at $646,000. Quent Capital LLC increased its position in AbbVie by 3.3% during the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after purchasing an additional 283 shares during the period. 9258 Wealth Management LLC increased its position in AbbVie by 1.6% during the 1st quarter. 9258 Wealth Management LLC now owns 17,183 shares of the company’s stock valued at $3,129,000 after purchasing an additional 274 shares during the period. Vista Capital Partners Inc. purchased a new position in AbbVie during the 1st quarter valued at $200,000. Finally, Hemenway Trust Co LLC increased its position in AbbVie by 12.2% during the 1st quarter. Hemenway Trust Co LLC now owns 31,848 shares of the company’s stock valued at $5,799,000 after purchasing an additional 3,472 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $201.69 on Wednesday. The stock has a market cap of $356.25 billion, a price-to-earnings ratio of 70.03, a PEG ratio of 2.54 and a beta of 0.63. The firm’s 50-day moving average is $194.29 and its 200 day moving average is $180.10. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. 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. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup upped their target price on shares of AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

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.