Holistic Financial Partners Boosts Position in AbbVie Inc. (NYSE:ABBV)

Holistic Financial Partners boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 2,710 shares of the company’s stock after buying an additional 90 shares during the quarter. Holistic Financial Partners’ holdings in AbbVie were worth $535,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie in the second quarter valued at $27,000. 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 acquiring an additional 207 shares in the last quarter. Marquette Asset Management LLC acquired a new position in AbbVie in the third quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 2.7 %

NYSE:ABBV opened at $164.99 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business’s 50 day moving average is $192.04 and its two-hundred day moving average is $181.04. The company has a market cap of $291.56 billion, a PE ratio of 57.29, a P/E/G ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a 52 week low of $137.05 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly 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. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. On average, analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. BMO Capital Markets dropped their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wolfe Research assumed coverage on AbbVie in a research note on Friday. They set an “outperform” rating and a $205.00 price target for the company. Finally, Morgan Stanley dropped their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $203.89.

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.