Angeles Investment Advisors LLC Has $337,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Angeles Investment Advisors LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,706 shares of the company’s stock after buying an additional 62 shares during the period. Angeles Investment Advisors LLC’s holdings in AbbVie were worth $337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in AbbVie by 2.6% in the third quarter. Pinnacle Financial Partners Inc now owns 175,654 shares of the company’s stock worth $34,688,000 after acquiring an additional 4,441 shares in the last quarter. Mengis Capital Management Inc. boosted its holdings in AbbVie by 1.3% in the third quarter. Mengis Capital Management Inc. now owns 9,023 shares of the company’s stock worth $1,782,000 after acquiring an additional 115 shares in the last quarter. Rossmore Private Capital boosted its holdings in AbbVie by 2.4% in the third quarter. Rossmore Private Capital now owns 42,929 shares of the company’s stock worth $8,478,000 after acquiring an additional 999 shares in the last quarter. Finally, Souders Financial Advisors boosted its holdings in AbbVie by 1.9% in the third quarter. Souders Financial Advisors now owns 22,340 shares of the company’s stock worth $4,412,000 after acquiring an additional 416 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABBV. Truist Financial increased their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America raised their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Piper Sandler raised their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Three equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $203.83.

AbbVie Stock Performance

NYSE:ABBV traded up $0.17 during trading hours on Wednesday, reaching $171.26. The stock had a trading volume of 858,811 shares, compared to its average volume of 5,395,279. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a 50 day simple moving average of $194.14 and a 200 day simple moving average of $180.83. AbbVie Inc. has a 12-month low of $136.30 and a 12-month high of $207.32. The stock has a market cap of $302.64 billion, a P/E ratio of 59.49, a price-to-earnings-growth ratio of 2.12 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly 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. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal 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 given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

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.