17 Capital Partners LLC Invests $212,000 in AbbVie Inc. (NYSE:ABBV)

17 Capital Partners LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,072 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new position in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the 2nd quarter valued at about $27,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at about $39,000. Finally, Burkett Financial Services LLC boosted its position in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after acquiring an additional 82 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.5 %

ABBV opened at $199.50 on Friday. The company has a market cap of $352.54 billion, a P/E ratio of 69.27, a P/E/G ratio of 2.46 and a beta of 0.63. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The business’s 50-day moving average price is $194.58 and its 200-day moving average price is $180.61. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Bank of America increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley boosted their target price on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.82.

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.