TFB Advisors LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

TFB Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,783 shares of the company’s stock after purchasing an additional 59 shares during the quarter. TFB Advisors LLC’s holdings in AbbVie were worth $352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GGM Financials LLC raised its stake in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the period. Pine Haven Investment Counsel Inc lifted its holdings in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares in the last quarter. First Citizens Financial Corp grew its stake in AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares in the last quarter. Finally, Sunflower Bank N.A. increased its holdings in AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after acquiring an additional 53 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ABBV shares. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial upped their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Piper Sandler raised their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Citigroup upped their price target on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Trading Down 0.5 %

NYSE ABBV opened at $199.57 on Friday. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The company’s 50-day moving average price is $194.58 and its 200-day moving average price is $180.61. The stock has a market cap of $352.67 billion, a PE ratio of 69.30, a PEG ratio of 2.51 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend yield of 3.29%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.