AbbVie Inc. (NYSE:ABBV) Stock Holdings Increased by Graypoint LLC

Graypoint LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% in the third quarter, Holdings Channel reports. The firm owned 17,520 shares of the company’s stock after buying an additional 1,720 shares during the period. Graypoint LLC’s holdings in AbbVie were worth $3,460,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares during the period. International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares in the last quarter. Capital World Investors lifted its holdings in AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares during the last quarter. Capital International Investors boosted its holdings in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after buying an additional 2,116,997 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. BMO Capital Markets lifted their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Finally, Citigroup lifted their price objective on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.72.

AbbVie Price Performance

Shares of NYSE ABBV opened at $201.20 on Thursday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The stock has a market capitalization of $355.39 billion, a PE ratio of 69.86, a P/E/G ratio of 2.54 and a beta of 0.63. The business has a fifty day moving average price of $194.41 and a two-hundred day moving average price of $180.25.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 226.99% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.95 EPS. As a group, equities analysts predict that AbbVie Inc. will post 10.97 earnings per share for the current fiscal 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 3.26%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 215.28%.

About AbbVie

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.