AbbVie Inc. (NYSE:ABBV) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,101 shares of the company’s stock after purchasing an additional 2,272 shares during the period. Kingsview Wealth Management LLC’s holdings in AbbVie were worth $14,633,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie during the 3rd quarter worth $999,000. Saturna Capital Corp grew its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the last quarter. First Hawaiian Bank grew its stake in AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after buying an additional 2,657 shares during the last quarter. PGGM Investments grew its stake in AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after buying an additional 24,756 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Wells Fargo & Company raised their price target on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday. 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 report on Tuesday, November 12th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $176.94 on Friday. 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’s 50 day moving average is $189.47 and its two-hundred day moving average is $181.04. The company has a market cap of $312.68 billion, a P/E ratio of 61.44, a P/E/G ratio of 2.09 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 issued its quarterly 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. The company 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 company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS. On average, equities analysts expect that AbbVie Inc. will post 10.95 EPS for the current 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 issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 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.