Borer Denton & Associates Inc. Has $11.52 Million Position in AbbVie Inc. (NYSE:ABBV)

Borer Denton & Associates Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,314 shares of the company’s stock after acquiring an additional 1,405 shares during the period. AbbVie comprises about 3.9% of Borer Denton & Associates Inc.’s portfolio, making the stock its 7th biggest position. Borer Denton & Associates Inc.’s holdings in AbbVie were worth $11,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie during the third quarter worth $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the period. First Hawaiian Bank grew its position in shares of AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares during the last quarter. Schrum Private Wealth Management LLC raised its position in shares of AbbVie by 57.5% during the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after acquiring an additional 6,065 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ABBV. TD Cowen increased their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. UBS Group lifted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Finally, Truist Financial upped their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Stock Up 3.0 %

AbbVie stock opened at $176.95 on Friday. The firm has a market capitalization of $312.70 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. The firm’s fifty day moving average price is $189.47 and its two-hundred day moving average price is $181.17. AbbVie Inc. has a 1-year low of $137.65 and a 1-year 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.

AbbVie (NYSE:ABBV) last announced 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. 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 244.01%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. On average, equities research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s payout ratio is presently 215.28%.

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.