SevenBridge Financial Group LLC Purchases 363 Shares of AbbVie Inc. (NYSE:ABBV)

SevenBridge Financial Group LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,892 shares of the company’s stock after acquiring an additional 363 shares during the quarter. SevenBridge Financial Group LLC’s holdings in AbbVie were worth $4,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Legal & General Group Plc lifted its stake in AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of AbbVie by 12.8% during the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares during the period. Massachusetts Financial Services Co. MA lifted its position in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after purchasing an additional 623,569 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in AbbVie by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,051,598 shares of the company’s stock worth $866,450,000 after purchasing an additional 381,871 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Morgan Stanley cut their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Guggenheim increased their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Up 3.0 %

ABBV stock opened at $176.95 on Friday. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32. The business’s 50 day simple moving average is $189.47 and its 200 day simple moving average is $181.17. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $312.70 billion, a PE ratio of 61.44, a PEG ratio of 2.09 and a beta of 0.63.

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

AbbVie Increases Dividend

The company also recently disclosed 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 represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

AbbVie Company 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.