GLOBALT Investments LLC GA acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 19,156 shares of the company's stock, valued at approximately $3,783,000.
A number of other hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in shares of AbbVie in the 1st quarter worth $646,000. Quent Capital LLC boosted 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 last quarter. PAX Financial Group LLC acquired a new stake in AbbVie during the 1st quarter worth $217,000. Seven Eight Capital LP acquired a new stake in AbbVie during the 1st quarter worth $576,000. Finally, PYA Waltman Capital LLC raised its stake in AbbVie by 1.8% during the 1st quarter. PYA Waltman Capital LLC now owns 16,088 shares of the company's stock worth $2,930,000 after buying an additional 282 shares during the period. 70.23% of the stock is currently owned by institutional investors.
AbbVie Price Performance
AbbVie stock traded up $0.42 during midday trading on Monday, reaching $165.41. 3,517,841 shares of the stock traded hands, compared to its average volume of 5,461,039. The stock's fifty day moving average is $192.04 and its 200-day moving average is $181.04. AbbVie Inc. has a 12 month low of $137.14 and a 12 month high of $207.32. The stock has a market cap of $292.30 billion, a P/E ratio of 57.40, a PEG ratio of 2.01 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.
AbbVie (NYSE:ABBV - Get Free Report) last announced 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. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. 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 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current 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. This represents a $6.56 annualized dividend and a dividend yield of 3.97%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is presently 215.28%.
Analysts Set New Price Targets
ABBV has been the topic of several research analyst reports. Argus raised AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Guggenheim lifted their price target on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Finally, Piper Sandler raised their price objective on AbbVie from $196.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $203.89.
Check Out Our Latest Research Report on AbbVie
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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