Howe & Rusling Inc. Has $14.47 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Howe & Rusling Inc. raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 16.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,277 shares of the company's stock after buying an additional 10,205 shares during the quarter. AbbVie comprises about 1.2% of Howe & Rusling Inc.'s portfolio, making the stock its 21st biggest holding. Howe & Rusling Inc.'s holdings in AbbVie were worth $14,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ABBV. GGM Financials LLC grew its holdings in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock worth $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc boosted its position in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock worth $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. grew its stake in shares of AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. Frisch Financial Group Inc. raised its holdings in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company's stock valued at $1,187,000 after purchasing an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp lifted its position in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock worth $1,141,000 after purchasing an additional 53 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.7 %

ABBV traded up $1.19 during trading on Wednesday, reaching $167.76. 7,131,938 shares of the company's stock were exchanged, compared to its average volume of 5,488,947. 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 one year low of $137.65 and a one year high of $207.32. The stock has a market capitalization of $296.46 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The firm has a fifty day moving average price of $190.79 and a two-hundred day moving average price of $181.10.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.91%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's payout ratio is currently 215.28%.

Analyst Ratings Changes

Several research firms have issued reports on ABBV. JPMorgan Chase & Co. dropped 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. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Morgan Stanley reduced their target price on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target 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.