AbbVie Inc. (NYSE:ABBV) Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 109.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,493 shares of the company's stock after purchasing an additional 3,391 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in AbbVie were worth $1,282,000 at the end of the most recent reporting period.

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

AbbVie Stock Down 0.5 %

NYSE ABBV traded down $0.84 during trading hours on Friday, reaching $175.33. 1,925,060 shares of the company traded hands, compared to its average volume of 5,517,161. The stock has a market capitalization of $309.83 billion, a PE ratio of 61.00, a PEG ratio of 2.08 and a beta of 0.58. 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 12 month low of $145.20 and a 12 month high of $207.32. The company has a 50 day moving average of $187.14 and a two-hundred day moving average of $182.17.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter last year, the company posted $2.95 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect 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. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.74%. AbbVie's dividend payout ratio (DPR) is 215.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Guggenheim increased their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective for the company. 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. Finally, Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective on the stock. in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $202.38.

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.