Captrust Financial Advisors Acquires 61,104 Shares of AbbVie Inc. (NYSE:ABBV)

Captrust Financial Advisors lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,228,865 shares of the company’s stock after purchasing an additional 61,104 shares during the quarter. AbbVie accounts for approximately 0.7% of Captrust Financial Advisors’ investment portfolio, making the stock its 29th biggest holding. Captrust Financial Advisors owned 0.07% of AbbVie worth $242,676,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the second quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the third quarter valued at approximately $28,000. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.1 %

Shares of ABBV stock opened at $183.08 on Friday. 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 $323.53 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. The stock has a 50 day simple moving average of $188.44 and a 200 day simple moving average of $181.60. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm 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 of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.58%. AbbVie’s dividend payout ratio is presently 215.28%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $203.50.

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.