AbbVie Inc. (NYSE:ABBV) Shares Purchased by Allen Capital Group LLC

Allen Capital Group LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 12.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,441 shares of the company’s stock after purchasing an additional 279 shares during the quarter. Allen Capital Group LLC’s holdings in AbbVie were worth $482,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fairway Wealth LLC purchased a new position in AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new position in AbbVie in the 2nd quarter worth approximately $27,000. Quest Partners LLC boosted its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $176.94 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $312.68 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 2.03 and a beta of 0.63. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The stock’s fifty day moving average is $189.47 and its two-hundred day moving average is $181.04.

AbbVie (NYSE:ABBV) last posted 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday. Wells Fargo & Company increased their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday. 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. Bank of America increased their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.50.

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.