AbbVie Inc. (NYSE:ABBV) Shares Bought by Holistic Financial Partners

Holistic Financial Partners raised its position in AbbVie Inc. (NYSE:ABBV) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,710 shares of the company’s stock after purchasing an additional 90 shares during the quarter. Holistic Financial Partners’ holdings in AbbVie were worth $535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GLOBALT Investments LLC GA purchased a new position in shares of AbbVie during the third quarter worth $3,783,000. Richard C. Young & CO. LTD. raised its holdings in shares of AbbVie by 18.8% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 23,123 shares of the company’s stock valued at $4,566,000 after buying an additional 3,653 shares during the period. Quest Partners LLC lifted its stake in AbbVie by 3,669.8% during the 3rd quarter. Quest Partners LLC now owns 7,992 shares of the company’s stock worth $1,578,000 after acquiring an additional 7,780 shares in the last quarter. Aljian Capital Management LLC purchased a new position in AbbVie during the 3rd quarter valued at about $1,329,000. Finally, Prudent Man Advisors LLC boosted its holdings in AbbVie by 64.5% during the 3rd quarter. Prudent Man Advisors LLC now owns 5,840 shares of the company’s stock valued at $1,153,000 after acquiring an additional 2,289 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 2.7 %

NYSE:ABBV opened at $164.99 on Monday. The firm has a market cap of $291.56 billion, a P/E ratio of 57.29, a PEG ratio of 2.01 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock’s 50 day simple moving average is $192.04 and its 200-day simple moving average is $181.04. AbbVie Inc. has a 12-month low of $137.05 and a 12-month high of $207.32.

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

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. AbbVie’s payout ratio is 215.28%.

Analyst Ratings Changes

A number of equities analysts recently commented on ABBV shares. Wolfe Research started coverage on AbbVie in a report on Friday. They set an “outperform” rating and a $205.00 target price for the company. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Bank of America raised their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $203.89.

AbbVie 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.