Coldstream Capital Management Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,071 shares of the company's stock after buying an additional 3,405 shares during the quarter. Coldstream Capital Management Inc.'s holdings in AbbVie were worth $12,194,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie in the third quarter worth $999,000. Saturna Capital Corp lifted its stake in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. Avior Wealth Management LLC boosted its holdings in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after buying an additional 10,768 shares in the last quarter. PGGM Investments grew its position in AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company's stock worth $5,624,000 after buying an additional 24,756 shares during the period. Finally, Schrum Private Wealth Management LLC increased 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 buying an additional 6,065 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $202.19.
Read Our Latest Report on AbbVie
AbbVie Trading Down 0.5 %
ABBV traded down $0.81 on Tuesday, reaching $175.76. 4,089,078 shares of the company's stock were exchanged, compared to its average volume of 5,518,841. AbbVie Inc. has a twelve month low of $150.16 and a twelve month high of $207.32. The company's 50 day moving average is $186.35 and its 200-day moving average is $182.67. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $310.59 billion, a price-to-earnings ratio of 61.00, a PEG ratio of 2.01 and a beta of 0.58.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.95 EPS. Equities analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.
AbbVie Increases Dividend
The company also recently disclosed 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. This is a boost from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio is presently 215.28%.
About AbbVie
(
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.
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