Geller Advisors LLC Purchases 772 Shares of AbbVie Inc. (NYSE:ABBV)

Geller Advisors LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,081 shares of the company’s stock after acquiring an additional 772 shares during the quarter. Geller Advisors LLC’s holdings in AbbVie were worth $1,991,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. State Street Corp boosted its position in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of AbbVie by 314.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock valued at $225,549,000 after acquiring an additional 997,441 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AbbVie by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after acquiring an additional 623,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of several research reports. BMO Capital Markets dropped their price objective 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. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Citigroup reduced their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Bank of America lifted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

AbbVie Trading Up 0.0 %

Shares of NYSE ABBV opened at $176.19 on Monday. AbbVie Inc. has a 1-year low of $145.20 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. The company has a 50-day moving average of $186.76 and a two-hundred day moving average of $182.54. The company has a market cap of $311.35 billion, a PE ratio of 61.18, a P/E/G ratio of 2.02 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced 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. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. As a group, equities analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

AbbVie Company 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.