GGM Financials LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

GGM Financials LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,895 shares of the company’s stock after buying an additional 50 shares during the quarter. AbbVie comprises about 1.2% of GGM Financials LLC’s investment portfolio, making the stock its 13th biggest holding. GGM Financials LLC’s holdings in AbbVie were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ABBV. Vanguard Group Inc. increased its position in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after purchasing an additional 992,496 shares in the last quarter. Legal & General Group Plc raised its stake in shares of AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of AbbVie by 12.8% during the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after purchasing an additional 1,240,434 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.2 %

Shares of NYSE:ABBV opened at $201.20 on Thursday. The stock has a 50 day moving average of $194.41 and a 200 day moving average of $180.25. The company has a market cap of $355.39 billion, a PE ratio of 69.86, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the firm earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABBV shares. BMO Capital Markets lifted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Finally, Citigroup boosted their target price on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.72.

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.