AbbVie Inc. (NYSE:ABBV) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,244,546 shares of the company's stock after buying an additional 73,473 shares during the period. National Bank of Canada FI owned approximately 0.07% of AbbVie worth $245,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Goldstream Capital Management Ltd bought a new stake in AbbVie during the third quarter valued at about $466,000. Glen Eagle Advisors LLC raised its position in shares of AbbVie by 2.6% during the 3rd quarter. Glen Eagle Advisors LLC now owns 18,277 shares of the company's stock valued at $3,609,000 after purchasing an additional 470 shares during the period. EP Wealth Advisors LLC boosted its holdings in AbbVie by 10.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 100,347 shares of the company's stock worth $19,816,000 after buying an additional 9,298 shares during the period. Kovitz Investment Group Partners LLC increased its stake in AbbVie by 196.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 68,358 shares of the company's stock worth $13,499,000 after buying an additional 45,336 shares in the last quarter. Finally, Voya Financial Advisors Inc. raised its holdings in AbbVie by 20.0% during the third quarter. Voya Financial Advisors Inc. now owns 4,344 shares of the company's stock valued at $846,000 after acquiring an additional 724 shares during the period. Institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. William Blair upgraded AbbVie to a "strong-buy" rating in a research report on Friday, August 30th. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a report on Monday, October 7th. Bank of America boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Citigroup lowered their price objective on shares of AbbVie from $226.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Finally, Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, August 23rd. Five equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $202.38.

AbbVie Stock Up 0.0 %

NYSE ABBV traded up $0.02 during trading on Friday, reaching $176.19. 4,839,640 shares of the company's stock traded hands, compared to its average volume of 7,454,487. AbbVie Inc. has a 12-month low of $145.20 and a 12-month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $311.35 billion, a price-to-earnings ratio of 61.17, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The company's 50 day simple moving average is $187.14 and its two-hundred day simple moving average is $182.17.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 earnings per share. As a group, sell-side analysts forecast 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 issued 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 dividend on an annualized basis and a yield of 3.72%. AbbVie's payout ratio is currently 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.