Schear Investment Advisers LLC Acquires Shares of 1,353 AbbVie Inc. (NYSE:ABBV)

Schear Investment Advisers LLC bought a new position in AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,353 shares of the company’s stock, valued at approximately $267,000.

A number of other large investors have also modified their holdings of the stock. Spinnaker Investment Group LLC boosted its holdings in AbbVie by 4.7% in the 3rd quarter. Spinnaker Investment Group LLC now owns 3,731 shares of the company’s stock worth $737,000 after acquiring an additional 167 shares during the period. Accredited Investors Inc. lifted its position in shares of AbbVie by 18.6% during the third quarter. Accredited Investors Inc. now owns 7,932 shares of the company’s stock worth $1,566,000 after purchasing an additional 1,246 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of AbbVie by 0.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 21,135 shares of the company’s stock valued at $4,174,000 after purchasing an additional 60 shares during the period. River Street Advisors LLC grew its holdings in AbbVie by 12.5% during the 3rd quarter. River Street Advisors LLC now owns 10,595 shares of the company’s stock valued at $2,092,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its stake in AbbVie by 26.6% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 2,940 shares of the company’s stock worth $581,000 after buying an additional 618 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday. They issued an “outperform” rating and a $205.00 price objective for the company. Citigroup reduced their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Wells Fargo & Company raised their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets reduced their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Three equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Trading Down 2.7 %

Shares of NYSE:ABBV opened at $164.99 on Friday. The company has a market cap of $291.56 billion, a PE ratio of 57.29, a P/E/G ratio of 2.07 and a beta of 0.63. The company’s 50-day moving average price is $192.04 and its 200 day moving average price is $180.91. AbbVie Inc. has a fifty-two week low of $137.05 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.95 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.98%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 227.78%.

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.