AbbVie Inc. (NYSE:ABBV) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 61.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,210 shares of the company’s stock after purchasing an additional 69,593 shares during the period. AbbVie accounts for approximately 2.4% of Meeder Asset Management Inc.’s portfolio, making the stock its 10th largest position. Meeder Asset Management Inc.’s holdings in AbbVie were worth $35,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. China Universal Asset Management Co. Ltd. acquired a new position in AbbVie in the first quarter valued at $646,000. Quent Capital LLC boosted its stake in AbbVie by 3.3% in the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after acquiring an additional 283 shares in the last quarter. Seven Eight Capital LP acquired a new position in AbbVie in the first quarter valued at $576,000. Evermay Wealth Management LLC boosted its stake in AbbVie by 1.6% in the first quarter. Evermay Wealth Management LLC now owns 7,584 shares of the company’s stock valued at $1,381,000 after acquiring an additional 118 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in AbbVie in the first quarter valued at $582,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.8 %

Shares of AbbVie stock opened at $166.26 on Tuesday. AbbVie Inc. has a 12-month low of $137.14 and a 12-month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $293.80 billion, a PE ratio of 57.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The company has a 50-day moving average of $191.44 and a two-hundred day moving average of $181.08.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 10.95 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 issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.95%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BMO Capital Markets reduced their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. UBS Group upped their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.89.

AbbVie 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.