Wilmington Savings Fund Society FSB Has $16.24 Million Position in AbbVie Inc. (NYSE:ABBV)

Wilmington Savings Fund Society FSB increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 157.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,223 shares of the company's stock after buying an additional 50,231 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in AbbVie were worth $16,237,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arvest Bank Trust Division bought a new position in AbbVie in the third quarter valued at $18,015,000. Sanctuary Advisors LLC boosted its stake in shares of AbbVie by 23.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 528,802 shares of the company's stock worth $104,428,000 after buying an additional 101,455 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in shares of AbbVie by 12.6% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 60,787 shares of the company's stock valued at $12,004,000 after acquiring an additional 6,814 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of AbbVie by 2.9% in the third quarter. Anchor Investment Management LLC now owns 88,716 shares of the company's stock valued at $17,520,000 after acquiring an additional 2,527 shares during the last quarter. Finally, Tudor Financial Inc. acquired a new stake in shares of AbbVie in the third quarter valued at about $445,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

NYSE:ABBV traded down $1.21 on Thursday, hitting $173.16. The company had a trading volume of 4,996,870 shares, compared to its average volume of 5,533,200. AbbVie Inc. has a 52 week low of $151.29 and a 52 week high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $306.00 billion, a price-to-earnings ratio of 60.51, a PEG ratio of 2.01 and a beta of 0.58. The firm has a 50 day moving average of $185.48 and a two-hundred day moving average of $182.75.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 EPS. On average, research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a boost from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's payout ratio is 227.78%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. William Blair upgraded AbbVie to a "strong-buy" rating in a research note on Friday, August 30th. Citigroup cut their price objective on AbbVie from $226.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Finally, Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $203.65.

AbbVie 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.