CreativeOne Wealth LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

CreativeOne Wealth LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 30.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,526 shares of the company's stock after purchasing an additional 8,706 shares during the period. CreativeOne Wealth LLC's holdings in AbbVie were worth $7,411,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth about $999,000. Saturna Capital Corp grew its holdings in AbbVie by 486.1% during the 3rd 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 grew its holdings in AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company's stock worth $5,506,000 after acquiring an additional 2,657 shares during the period. PGGM Investments grew its holdings in AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company's stock worth $5,624,000 after acquiring an additional 24,756 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after buying an additional 10,768 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV traded up $1.95 during mid-day trading on Wednesday, reaching $183.09. 5,268,798 shares of the stock traded hands, compared to its average volume of 5,555,972. The firm has a fifty day moving average price of $188.85 and a 200 day moving average price of $181.58. The company has a market cap of $323.55 billion, a price-to-earnings ratio of 63.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. 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 1 year low of $137.65 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the business earned $2.95 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared 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. 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 3.58%. AbbVie's payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABBV. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Morgan Stanley reduced their target price on AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, William Blair upgraded AbbVie to a "strong-buy" rating in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $203.50.

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.