Avior Wealth Management LLC Has $11.17 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Avior Wealth Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 23.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 56,556 shares of the company’s stock after purchasing an additional 10,768 shares during the period. Avior Wealth Management LLC’s holdings in AbbVie were worth $11,169,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Atlanta Consulting Group Advisors LLC bought a new stake in AbbVie in the third quarter worth approximately $999,000. Saturna Capital Corp increased its position in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the last quarter. First Hawaiian Bank raised its holdings in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares in the last quarter. PGGM Investments lifted its position in shares of AbbVie by 308.1% in the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after buying an additional 24,756 shares during the last quarter. Finally, Schrum Private Wealth Management LLC boosted its stake in shares of AbbVie by 57.5% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after acquiring an additional 6,065 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Truist Financial boosted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.37.

AbbVie Stock Down 0.4 %

ABBV opened at $165.54 on Tuesday. The company has a market capitalization of $292.53 billion, a P/E ratio of 57.48, a P/E/G ratio of 2.01 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm’s fifty day moving average price is $191.44 and its two-hundred day moving average price is $181.08. AbbVie Inc. has a fifty-two week low of $137.14 and a fifty-two week high of $207.32.

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

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) 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.