Pine Valley Investments Ltd Liability Co Has $12 Million Stake in AbbVie Inc. (NYSE:ABBV)

Pine Valley Investments Ltd Liability Co raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,787 shares of the company's stock after purchasing an additional 6,814 shares during the quarter. AbbVie makes up about 0.7% of Pine Valley Investments Ltd Liability Co's investment portfolio, making the stock its 28th largest position. Pine Valley Investments Ltd Liability Co's holdings in AbbVie were worth $12,004,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Fairway Wealth LLC acquired a new position in AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter valued at $27,000. Groupama Asset Managment boosted its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter worth about $28,000. Finally, Quest Partners LLC raised its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.7 %

Shares of NYSE:ABBV traded down $1.18 during midday trading on Thursday, hitting $173.19. The stock had a trading volume of 4,950,531 shares, compared to its average volume of 5,533,200. The company has a market cap of $306.05 billion, a P/E ratio of 60.51, a PEG ratio of 2.01 and a beta of 0.58. The business's 50-day simple moving average is $185.48 and its 200-day simple moving average is $182.75. AbbVie Inc. has a 12 month low of $151.29 and a 12 month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share 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 business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter in the prior year, the business earned $2.95 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given 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 3.79%. AbbVie's dividend payout ratio (DPR) is currently 227.78%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Truist Financial upped their price target on AbbVie from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Finally, Argus raised shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $203.65.

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.