Kerusso Capital Management LLC Buys 406 Shares of AbbVie Inc. (NYSE:ABBV)

Kerusso Capital Management LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,658 shares of the company’s stock after acquiring an additional 406 shares during the period. Kerusso Capital Management LLC’s holdings in AbbVie were worth $1,315,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. First Hawaiian Bank boosted its position in AbbVie by 9.0% in the 2nd 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 during the last quarter. PGGM Investments lifted its stake in shares of AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares during the period. Foresight Capital Management Advisors Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $1,349,000. Sumitomo Life Insurance Co. lifted its stake in shares of AbbVie by 29.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock valued at $5,333,000 after purchasing an additional 6,161 shares during the period. Finally, Ullmann Wealth Partners Group LLC lifted its stake in shares of AbbVie by 109.1% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock valued at $1,249,000 after purchasing an additional 3,301 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.5 %

AbbVie stock opened at $199.50 on Friday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65. The stock has a market capitalization of $352.54 billion, a P/E ratio of 69.27, a PEG ratio of 2.46 and a beta of 0.63. The stock has a 50-day simple moving average of $194.58 and a 200 day simple moving average of $180.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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. The firm had revenue of $14.46 billion during 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. Analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.29%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. Truist Financial increased their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays raised their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Guggenheim increased their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets increased their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley increased their target price on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. 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 company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price 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.