AbbVie Inc. (NYSE:ABBV) Position Increased by 49 Wealth Management LLC

49 Wealth Management LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 224.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,002 shares of the company’s stock after acquiring an additional 3,458 shares during the period. 49 Wealth Management LLC’s holdings in AbbVie were worth $988,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABBV. Lathrop Investment Management Corp raised its position in shares of AbbVie by 13.3% during the third quarter. Lathrop Investment Management Corp now owns 4,273 shares of the company’s stock worth $844,000 after purchasing an additional 500 shares during the period. HealthInvest Partners AB raised its holdings in AbbVie by 24.9% during the 3rd quarter. HealthInvest Partners AB now owns 44,486 shares of the company’s stock worth $8,785,000 after buying an additional 8,868 shares during the period. Pacer Advisors Inc. lifted its stake in AbbVie by 5.1% during the third quarter. Pacer Advisors Inc. now owns 391,915 shares of the company’s stock valued at $77,395,000 after buying an additional 19,025 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after buying an additional 373,802 shares during the period. Finally, Integrated Investment Consultants LLC increased its position in shares of AbbVie by 2,338.6% in the third quarter. Integrated Investment Consultants LLC now owns 169,189 shares of the company’s stock worth $33,411,000 after acquiring an additional 162,251 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 2.6 %

NYSE ABBV opened at $172.18 on Friday. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32. The company has a market capitalization of $304.27 billion, a price-to-earnings ratio of 59.78, a PEG ratio of 2.03 and a beta of 0.63. The stock’s 50 day moving average is $189.81 and its two-hundred day moving average is $180.95. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

Analyst Ratings Changes

A number of equities research analysts have commented on ABBV shares. Wells Fargo & Company raised their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley cut their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Guggenheim increased their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Profile

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.