Sachetta LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Sachetta LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,788 shares of the company’s stock after buying an additional 201 shares during the quarter. Sachetta LLC’s holdings in AbbVie were worth $1,143,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new stake in AbbVie during the second quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the second quarter valued at $27,000. Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter worth about $39,000. Mizuho Securities Co. Ltd. grew its holdings in 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 during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABBV. Guggenheim boosted their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Truist Financial upped their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $203.37.

AbbVie Stock Performance

Shares of AbbVie stock opened at $166.58 on Wednesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 1 year low of $137.14 and a 1 year high of $207.32. The firm’s 50-day simple moving average is $190.79 and its 200-day simple moving average is $181.10. The firm has a market cap of $294.37 billion, a PE ratio of 57.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63.

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

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 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.