AbbVie Inc. (NYSE:ABBV) Shares Acquired by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 100.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 200 shares of the company’s stock after purchasing an additional 100 shares during the period. Mizuho Securities Co. Ltd.’s holdings in AbbVie were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ABBV. GGM Financials LLC increased its stake in shares of AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its holdings in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares in the last quarter. Dillon & Associates Inc. increased its position in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares during the last quarter. Frisch Financial Group Inc. raised its holdings in AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after buying an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp lifted its position in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

ABBV traded up $0.97 during trading on Wednesday, reaching $172.06. 2,663,353 shares of the company’s stock were exchanged, compared to its average volume of 5,402,497. The company has a market capitalization of $304.05 billion, a P/E ratio of 59.45, a PEG ratio of 2.12 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business has a 50 day moving average price of $193.61 and a 200 day moving average price of $180.91. AbbVie Inc. has a fifty-two week low of $136.30 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 period in the previous year, the business earned $2.95 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ABBV shares. Piper Sandler raised their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. UBS Group boosted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.83.

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.