AbbVie Inc. (NYSE:ABBV) Shares Acquired by Hollow Brook Wealth Management LLC

Hollow Brook Wealth Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,325 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Hollow Brook Wealth Management LLC’s holdings in AbbVie were worth $657,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the third quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie during the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.0 %

Shares of AbbVie stock opened at $182.92 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock’s 50 day simple moving average is $188.23 and its 200-day simple moving average is $182.02. The stock has a market cap of $323.25 billion, a P/E ratio of 63.52, a P/E/G ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a 1-year low of $142.66 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping 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 analyst estimates of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company 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. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.59%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABBV. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.