AbbVie Inc. (NYSE:ABBV) Shares Bought by Biltmore Family Office LLC

Biltmore Family Office LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 32,171 shares of the company’s stock after buying an additional 559 shares during the period. AbbVie accounts for approximately 1.1% of Biltmore Family Office LLC’s portfolio, making the stock its 11th largest position. Biltmore Family Office LLC’s holdings in AbbVie were worth $6,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the second quarter worth $27,000. Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABBV shares. Guggenheim boosted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Citigroup reduced their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Trading Up 2.6 %

Shares of NYSE:ABBV opened at $172.18 on Friday. The company has a 50 day moving average of $189.81 and a 200-day moving average of $180.95. 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 firm has a market cap of $304.27 billion, a P/E ratio of 59.78, a P/E/G ratio of 2.03 and a beta of 0.63. AbbVie Inc. has a twelve month low of $137.65 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.81%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

About AbbVie

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.