AbbVie Inc. (NYSE:ABBV) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 22.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 834,464 shares of the company's stock after purchasing an additional 154,337 shares during the quarter. Cerity Partners LLC's holdings in AbbVie were worth $164,790,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp increased its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after acquiring an additional 560,808 shares during the period. First Hawaiian Bank raised its stake in shares of AbbVie by 9.0% in the second quarter. First Hawaiian Bank now owns 32,099 shares of the company's stock valued at $5,506,000 after acquiring an additional 2,657 shares in the last quarter. Schrum Private Wealth Management LLC boosted its holdings in AbbVie by 57.5% in the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company's stock valued at $3,282,000 after purchasing an additional 6,065 shares during the period. Finally, Avior Wealth Management LLC grew its stake in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after purchasing an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV traded up $5.22 during trading hours on Friday, reaching $176.95. 11,328,616 shares of the company's stock were exchanged, compared to its average volume of 7,564,238. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $312.70 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 2.09 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 company has a 50-day moving average of $189.47 and a 200 day moving average of $181.17.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business 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 business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 earnings per share. Research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

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

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. Morgan Stanley decreased their price objective on AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. William Blair upgraded shares of AbbVie to a "strong-buy" rating in a report on Friday, August 30th. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective on the stock in a report on Friday. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Finally, UBS Group increased their target price on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Three equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $203.50.

AbbVie Profile

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.