AbbVie Inc. (NYSE:ABBV) Shares Acquired by Biltmore Family Office LLC

Biltmore Family Office LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 32,171 shares of the company’s stock after acquiring an additional 559 shares during the period. AbbVie comprises 1.1% of Biltmore Family Office LLC’s investment portfolio, making the stock its 11th biggest holding. Biltmore Family Office LLC’s holdings in AbbVie were worth $6,353,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of AbbVie in the first quarter valued at $646,000. Quent Capital LLC lifted its position in shares of AbbVie by 3.3% during the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of AbbVie by 9.3% during the first quarter. Westwood Holdings Group Inc. now owns 11,250 shares of the company’s stock worth $2,049,000 after purchasing an additional 959 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in AbbVie by 11.3% in the first quarter. Stonebridge Capital Advisors LLC now owns 2,109 shares of the company’s stock valued at $384,000 after buying an additional 214 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. acquired a new stake in AbbVie in the first quarter valued at $201,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America boosted 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. UBS Group raised their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Morgan Stanley decreased their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $203.50.

AbbVie Trading Up 2.6 %

AbbVie stock opened at $172.18 on Friday. The stock has a 50-day moving average price of $189.81 and a 200 day moving average price of $180.95. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The stock has a market cap of $304.27 billion, a PE ratio of 59.78, a P/E/G ratio of 2.03 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.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The company 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. Equities research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.81%. AbbVie’s payout ratio is 215.28%.

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.