Asio Capital LLC Purchases 6,183 Shares of AbbVie Inc. (NYSE:ABBV)

Asio Capital LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 30.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,446 shares of the company’s stock after buying an additional 6,183 shares during the quarter. Asio Capital LLC’s holdings in AbbVie were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Element Wealth LLC lifted its position in AbbVie by 5.7% in the second quarter. Element Wealth LLC now owns 5,524 shares of the company’s stock valued at $542,000 after purchasing an additional 296 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in AbbVie by 7.0% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,948 shares of the company’s stock valued at $289,000 after purchasing an additional 193 shares during the last quarter. Wesbanco Bank Inc. lifted its position in AbbVie by 72.8% in the second quarter. Wesbanco Bank Inc. now owns 128,245 shares of the company’s stock valued at $12,591,000 after purchasing an additional 54,010 shares during the last quarter. Banco Santander S.A. lifted its position in AbbVie by 664.9% in the second quarter. Banco Santander S.A. now owns 118,133 shares of the company’s stock valued at $11,599,000 after purchasing an additional 102,689 shares during the last quarter. Finally, Laidlaw Wealth Management LLC lifted its position in AbbVie by 74.7% in the second quarter. Laidlaw Wealth Management LLC now owns 7,671 shares of the company’s stock valued at $753,000 after purchasing an additional 3,280 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.

ABBV has been the subject of several recent research reports. Mizuho reiterated a “buy” rating and issued a $111.00 price objective on shares of AbbVie in a research report on Sunday, September 27th. Atlantic Securities upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Tuesday, June 23rd. Citigroup upped their target price on AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Royal Bank of Canada upped their target price on AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Morgan Stanley upped their target price on AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $108.63.

Shares of ABBV stock opened at $86.27 on Friday. The stock has a market cap of $152.25 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.42 and a beta of 0.74. The business’s fifty day moving average is $89.38 and its 200 day moving average is $90.44. AbbVie Inc. has a twelve month low of $62.55 and a twelve month high of $101.28. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.14. The company had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.26 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a $1.18 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.47%. AbbVie’s dividend payout ratio is currently 52.80%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Featured Article: How to use beta for portfolio diversification

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.