Arlington Capital Management Inc. Purchases 202 Shares of AbbVie Inc. (NYSE:ABBV)

Arlington Capital Management Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 15.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,506 shares of the company’s stock after purchasing an additional 202 shares during the quarter. Arlington Capital Management Inc.’s holdings in AbbVie were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $39,000. 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 worth $36,000 after acquiring an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC grew its holdings in AbbVie by 61.2% during the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after acquiring an additional 82 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABBV. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley increased their price target on shares of AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group increased their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Trading Down 0.8 %

NYSE:ABBV traded down $1.73 during midday trading on Monday, reaching $201.82. 667,877 shares of the stock traded hands, compared to its average volume of 5,307,515. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a fifty day moving average of $194.12 and a 200 day moving average of $179.60. The stock has a market capitalization of $356.48 billion, a P/E ratio of 70.08, a PEG ratio of 2.78 and a beta of 0.63. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) 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 226.99%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that AbbVie Inc. will post 10.95 EPS for the current 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 paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) 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.