AbbVie Inc. (NYSE:ABBV) Shares Bought by Abel Hall LLC

Abel Hall LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 3.7% in the third quarter, Holdings Channel reports. The fund owned 2,434 shares of the company’s stock after purchasing an additional 86 shares during the period. Abel Hall LLC’s holdings in AbbVie were worth $481,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter valued at $28,000. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie in the 2nd quarter valued at about $27,000. Marquette Asset Management LLC acquired a new position in AbbVie in the third quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. increased its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ABBV shares. Citigroup decreased their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.

AbbVie Price Performance

ABBV stock opened at $176.19 on Monday. The business has a 50 day simple moving average of $186.76 and a 200-day simple moving average of $182.54. The company has a market capitalization of $311.35 billion, a P/E ratio of 61.18, a PEG ratio of 2.01 and a beta of 0.58. AbbVie Inc. has a twelve month low of $145.20 and a twelve 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.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 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 for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the business posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current 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 paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 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.