Quantinno Capital Management LP increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 53.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,560 shares of the company's stock after buying an additional 54,769 shares during the period. Quantinno Capital Management LP's holdings in AbbVie were worth $31,115,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter valued at about $28,000. Quest Partners LLC boosted its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company's stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 70.23% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. William Blair raised AbbVie to a "strong-buy" rating in a research note on Friday, August 30th. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. UBS Group upped their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Bank of America increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Finally, Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $202.38.
Get Our Latest Stock Analysis on AbbVie
AbbVie Stock Down 0.0 %
AbbVie stock traded down $0.06 during mid-day trading on Thursday, reaching $176.40. The company's stock had a trading volume of 2,535,438 shares, compared to its average volume of 5,519,676. The company has a market capitalization of $311.72 billion, a price-to-earnings ratio of 61.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.58. AbbVie Inc. has a 12 month low of $144.73 and a 12 month high of $207.32. The business's 50 day simple moving average is $187.45 and its 200 day simple moving average is $182.21. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.
AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The business 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%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.
AbbVie Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is 215.28%.
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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