AbbVie Inc. (NYSE:ABBV) Shares Acquired by LJI Wealth Management LLC

LJI Wealth Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,219 shares of the company’s stock after purchasing an additional 89 shares during the quarter. LJI Wealth Management LLC’s holdings in AbbVie were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. China Universal Asset Management Co. Ltd. acquired a new stake in shares of AbbVie in the first quarter valued at approximately $646,000. Quent Capital LLC increased its position in AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after acquiring an additional 283 shares during the period. Strait & Sound Wealth Management LLC raised its stake in AbbVie by 1.0% during the 1st quarter. Strait & Sound Wealth Management LLC now owns 9,267 shares of the company’s stock valued at $1,552,000 after acquiring an additional 94 shares in the last quarter. Jacobi Capital Management LLC boosted its position in AbbVie by 2.1% during the 1st quarter. Jacobi Capital Management LLC now owns 32,430 shares of the company’s stock worth $5,906,000 after acquiring an additional 669 shares during the period. Finally, Northern Capital Management Inc. grew its stake in shares of AbbVie by 6.7% in the first quarter. Northern Capital Management Inc. now owns 1,711 shares of the company’s stock worth $312,000 after purchasing an additional 107 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 2.7 %

Shares of ABBV stock traded down $4.64 during trading hours on Friday, reaching $164.99. 11,265,398 shares of the stock traded hands, compared to its average volume of 5,469,640. 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 capitalization of $291.56 billion, a PE ratio of 57.26, a PEG ratio of 2.07 and a beta of 0.63. AbbVie Inc. has a 1-year low of $137.05 and a 1-year high of $207.32. The business has a fifty day moving average price of $192.04 and a 200 day moving average price of $180.78.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABBV shares. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday. They set an “outperform” rating and a $205.00 price objective on the stock. Citigroup dropped their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets cut their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.