First Dallas Securities Inc. Invests $2.70 Million in AbbVie Inc. (NYSE:ABBV)

First Dallas Securities Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,837 shares of the company’s stock, valued at approximately $2,701,000. AbbVie makes up about 3.0% of First Dallas Securities Inc.’s investment portfolio, making the stock its 8th biggest position.

A number of other institutional investors also recently made changes to their positions in the business. Hodges Capital Management Inc. lifted its holdings in shares of AbbVie by 10.3% during the 3rd quarter. Hodges Capital Management Inc. now owns 62,953 shares of the company’s stock worth $5,514,000 after acquiring an additional 5,897 shares during the last quarter. Manchester Financial Inc. raised its position in AbbVie by 24.9% during the third quarter. Manchester Financial Inc. now owns 1,666 shares of the company’s stock valued at $146,000 after purchasing an additional 332 shares in the last quarter. Diversified Trust Co lifted its stake in AbbVie by 1.4% during the third quarter. Diversified Trust Co now owns 20,643 shares of the company’s stock worth $1,808,000 after purchasing an additional 285 shares during the last quarter. Coastline Trust Co boosted its holdings in shares of AbbVie by 3.9% in the 3rd quarter. Coastline Trust Co now owns 28,031 shares of the company’s stock worth $2,455,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Bowling Portfolio Management LLC boosted its holdings in shares of AbbVie by 342.2% in the 3rd quarter. Bowling Portfolio Management LLC now owns 27,144 shares of the company’s stock worth $2,378,000 after purchasing an additional 21,006 shares in the last quarter. Institutional investors and hedge funds own 68.23% of the company’s stock.

A number of analysts recently weighed in on the company. Mizuho restated a “buy” rating and issued a $111.00 target price on shares of AbbVie in a research report on Sunday, September 27th. Morgan Stanley increased their target price on shares of AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Berenberg Bank began coverage on shares of AbbVie in a research report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 target price on the stock. Royal Bank of Canada upped their price target on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Citigroup lifted their price objective on AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. One research 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’s stock. The stock currently has an average rating of “Buy” and an average target price of $108.63.

Shares of NYSE:ABBV opened at $86.27 on Friday. The stock’s 50-day moving average is $89.38 and its 200 day moving average is $90.44. The company has a market cap of $152.25 billion, a PE ratio of 18.36, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70. AbbVie Inc. has a 1 year low of $62.55 and a 1 year high of $101.28.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.14. The firm 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%. During the same period in the previous year, the firm earned $2.26 earnings per share. The business’s revenue was up 26.3% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 10.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a $1.18 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $4.72 annualized dividend and a yield of 5.47%. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

About AbbVie

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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