AbbVie Inc. (NYSE:ABBV) Holdings Raised by LRI Investments LLC

LRI Investments LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 51.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,975 shares of the company's stock after acquiring an additional 4,723 shares during the period. LRI Investments LLC's holdings in AbbVie were worth $2,760,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. PYA Waltman Capital LLC grew its holdings in AbbVie by 4.9% during the 3rd quarter. PYA Waltman Capital LLC now owns 18,051 shares of the company's stock valued at $3,565,000 after buying an additional 846 shares during the last quarter. Geller Advisors LLC boosted its stake in shares of AbbVie by 8.3% during the third quarter. Geller Advisors LLC now owns 10,081 shares of the company's stock valued at $1,991,000 after acquiring an additional 772 shares during the last quarter. Hamilton Capital LLC increased its position in AbbVie by 1.9% during the 3rd quarter. Hamilton Capital LLC now owns 13,290 shares of the company's stock worth $2,710,000 after purchasing an additional 253 shares in the last quarter. Cape Cod Five Cents Savings Bank lifted its holdings in AbbVie by 3.8% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 17,920 shares of the company's stock valued at $3,539,000 after purchasing an additional 660 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABBV. Leerink Partners raised AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research report on Thursday. Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, BMO Capital Markets reduced their target price on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $202.38.

AbbVie Stock Performance

AbbVie stock traded up $0.44 during mid-day trading on Monday, reaching $176.63. The company's stock had a trading volume of 4,390,391 shares, compared to its average volume of 5,524,718. 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 twelve month low of $150.16 and a twelve month high of $207.32. The business has a 50 day moving average price of $186.76 and a 200-day moving average price of $182.54. The firm has a market cap of $312.12 billion, a price-to-earnings ratio of 61.66, 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same period in the prior year, the firm earned $2.95 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie's payout ratio is presently 215.28%.

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.