Douglass Winthrop Advisors LLC Acquires 1,274 Shares of AbbVie Inc. (NYSE:ABBV)

Douglass Winthrop Advisors LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,638 shares of the company’s stock after acquiring an additional 1,274 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in AbbVie were worth $8,420,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ABBV. China Universal Asset Management Co. Ltd. bought a new position in shares of AbbVie in the first quarter worth approximately $646,000. Quent Capital LLC increased its position in shares of AbbVie by 3.3% in the first 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. Kennedy Capital Management LLC raised its stake in shares of AbbVie by 4,201.9% during the first quarter. Kennedy Capital Management LLC now owns 62,506 shares of the company’s stock valued at $11,382,000 after acquiring an additional 61,053 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in shares of AbbVie by 13.2% during the first quarter. Industrial Alliance Investment Management Inc. now owns 6,597 shares of the company’s stock worth $1,201,000 after purchasing an additional 767 shares during the period. Finally, Whalerock Point Partners LLC grew its stake in shares of AbbVie by 1.4% in the first quarter. Whalerock Point Partners LLC now owns 11,064 shares of the company’s stock worth $2,015,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 3.0 %

NYSE:ABBV opened at $176.95 on Monday. 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 firm has a market cap of $312.70 billion, a P/E ratio of 61.44, a P/E/G ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. The firm has a 50-day simple moving average of $189.47 and a two-hundred day simple moving average of $181.32.

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

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. TD Cowen increased their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Truist Financial raised their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday. Citigroup dropped their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus 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.