Citizens Financial Group Inc. RI Buys 4,074 Shares of AbbVie Inc. (NYSE:ABBV)

Citizens Financial Group Inc. RI raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,228 shares of the company's stock after acquiring an additional 4,074 shares during the quarter. Citizens Financial Group Inc. RI's holdings in AbbVie were worth $19,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its stake 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 acquiring an additional 207 shares during the period. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock opened at $167.74 on Thursday. The firm has a 50-day moving average of $190.25 and a two-hundred day moving average of $181.01. The stock has a market cap of $296.42 billion, a price-to-earnings ratio of 58.24, a price-to-earnings-growth ratio of 2.01 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 debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current 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 paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.91%. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ABBV shares. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Wells Fargo & Company upped their price objective on AbbVie to $195.00 and gave the stock a "buy" rating in a research note on Tuesday. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They set a "market perform" rating and a $203.00 target price on the stock. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $203.37.

AbbVie Company 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.

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