AbbVie Inc. (NYSE:ABBV) is HealthInvest Partners AB’s 7th Largest Position

HealthInvest Partners AB boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 24.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,486 shares of the company’s stock after purchasing an additional 8,868 shares during the period. AbbVie comprises approximately 4.1% of HealthInvest Partners AB’s holdings, making the stock its 7th largest position. HealthInvest Partners AB’s holdings in AbbVie were worth $8,785,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake in shares of AbbVie by 5.1% during the 3rd quarter. Pacer Advisors Inc. now owns 391,915 shares of the company’s stock worth $77,395,000 after purchasing an additional 19,025 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. Integrated Investment Consultants LLC grew its position in AbbVie by 2,338.6% in the third quarter. Integrated Investment Consultants LLC now owns 169,189 shares of the company’s stock worth $33,411,000 after acquiring an additional 162,251 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of AbbVie by 1.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 73,339 shares of the company’s stock valued at $14,483,000 after purchasing an additional 710 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in AbbVie by 3.6% in the third quarter. LPL Financial LLC now owns 2,657,804 shares of the company’s stock worth $524,863,000 after purchasing an additional 92,492 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.37.

AbbVie Stock Down 0.3 %

AbbVie stock traded down $0.52 during mid-day trading on Thursday, reaching $167.24. The company’s stock had a trading volume of 252,673 shares, compared to its average volume of 5,465,793. 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 business’s 50 day simple moving average is $190.25 and its 200 day simple moving average is $181.01. The company has a market capitalization of $295.54 billion, a price-to-earnings ratio of 58.24, a price-to-earnings-growth ratio of 2.03 and a beta of 0.63. AbbVie Inc. has a 12 month low of $137.65 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $2.95 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 10.95 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 issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.92%. AbbVie’s payout ratio is currently 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.