AbbVie Inc. (NYSE:ABBV) Stock Position Lifted by Accredited Investors Inc.

Accredited Investors Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 18.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,932 shares of the company’s stock after buying an additional 1,246 shares during the quarter. Accredited Investors Inc.’s holdings in AbbVie were worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ABBV. Fairway Wealth LLC purchased a new stake in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC raised its stake in shares of 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 purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ABBV shares. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Truist Financial upped their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Stock Performance

NYSE ABBV opened at $164.99 on Friday. The company’s fifty day moving average is $192.04 and its two-hundred day moving average is $180.91. The firm has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a P/E/G ratio of 2.07 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 52-week low of $137.05 and a 52-week high of $207.32.

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

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

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.