Altman Advisors Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 31.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,892 shares of the company's stock after buying an additional 3,523 shares during the period. AbbVie accounts for approximately 1.3% of Altman Advisors Inc.'s portfolio, making the stock its 16th largest position. Altman Advisors Inc.'s holdings in AbbVie were worth $2,941,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of ABBV. China Universal Asset Management Co. Ltd. bought a new stake in shares of AbbVie in the 1st quarter worth about $646,000. Quent Capital LLC lifted its position in shares of AbbVie by 3.3% in 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 period. Seven Eight Capital LP bought a new position in shares of AbbVie during the 1st quarter worth approximately $576,000. EP Wealth Advisors LLC raised its stake in shares of AbbVie by 4.0% during the 1st quarter. EP Wealth Advisors LLC now owns 88,610 shares of the company's stock worth $16,136,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Rodgers Brothers Inc. increased its stake in AbbVie by 3.7% during the 1st quarter. Rodgers Brothers Inc. now owns 134,163 shares of the company's stock valued at $24,431,000 after purchasing an additional 4,816 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ABBV has been the topic of a number of recent analyst reports. Guggenheim increased their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. William Blair upgraded shares of AbbVie to a "strong-buy" rating in a research note on Friday, August 30th. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $203.37.
Check Out Our Latest Research Report on AbbVie
AbbVie Price Performance
NYSE ABBV traded up $1.17 during midday trading on Wednesday, hitting $167.74. The company had a trading volume of 7,133,346 shares, compared to its average volume of 5,488,950. 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 Inc. has a twelve month low of $137.65 and a twelve month high of $207.32. The company has a market capitalization of $296.42 billion, a PE ratio of 57.87, a P/E/G ratio of 2.01 and a beta of 0.63. The firm has a 50-day moving average price of $190.79 and a 200-day moving average price of $181.10.
AbbVie (NYSE:ABBV - Get Free Report) last issued 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 business 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 EPS. AbbVie's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.
AbbVie Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date 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 dividend yield of 3.91%. AbbVie's dividend payout ratio is 215.28%.
AbbVie Company Profile
(
Free Report)
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.
Featured Articles
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
