Radnor Capital Management LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Radnor Capital Management LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,915 shares of the company’s stock after buying an additional 2,561 shares during the period. AbbVie comprises about 0.8% of Radnor Capital Management LLC’s holdings, making the stock its 20th biggest position. Radnor Capital Management LLC’s holdings in AbbVie were worth $5,513,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ABBV. Fairway Wealth LLC purchased a new position in shares of AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie in the second quarter worth about $27,000. Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter worth about $39,000. Finally, Burkett Financial Services LLC increased its stake in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABBV shares. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Citigroup raised their price objective on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group raised their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Trading Up 0.6 %

Shares of AbbVie stock opened at $201.69 on Wednesday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The firm has a market cap of $356.25 billion, a PE ratio of 70.03, a PEG ratio of 2.54 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a 50 day simple moving average of $194.29 and a two-hundred day simple moving average of $180.10.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS. Analysts expect that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. This is a positive change 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 presently 215.28%.

About AbbVie

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.