Zions Bancorporation N.A. Purchases 813 Shares of AbbVie Inc. (NYSE:ABBV)

Zions Bancorporation N.A. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,672 shares of the company’s stock after purchasing an additional 813 shares during the period. Zions Bancorporation N.A.’s holdings in AbbVie were worth $5,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new stake in AbbVie during the first quarter valued at approximately $646,000. Quent Capital LLC boosted its stake in AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares during the last quarter. Brighton Jones LLC raised its stake in AbbVie by 14.2% during the first quarter. Brighton Jones LLC now owns 19,244 shares of the company’s stock valued at $3,504,000 after purchasing an additional 2,387 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of AbbVie by 1.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 25,072 shares of the company’s stock worth $4,566,000 after buying an additional 336 shares in the last quarter. Finally, Gratus Wealth Advisors LLC lifted its stake in shares of AbbVie by 2.5% in the 1st quarter. Gratus Wealth Advisors LLC now owns 7,588 shares of the company’s stock valued at $1,382,000 after purchasing an additional 187 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.4 %

Shares of NYSE ABBV opened at $170.46 on Thursday. AbbVie Inc. has a 52-week low of $136.30 and a 52-week high of $207.32. The business’s 50 day moving average is $193.08 and its two-hundred day moving average is $180.84. 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 firm has a market cap of $301.23 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.08 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (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 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.85%. AbbVie’s dividend payout ratio is 215.28%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ABBV shares. BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America lifted their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Guggenheim lifted their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.83.

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.