Fortem Financial Group LLC Acquires 1,362 Shares of AbbVie Inc. (NYSE:ABBV)

Fortem Financial Group LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 19.1% during the third quarter, HoldingsChannel.com reports. The fund owned 8,509 shares of the company’s stock after purchasing an additional 1,362 shares during the period. Fortem Financial Group LLC’s holdings in AbbVie were worth $1,680,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GGM Financials LLC grew its holdings in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc grew its holdings in shares of AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. grew its holdings in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the last quarter. Frisch Financial Group Inc. grew its holdings in shares of AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp grew its holdings in shares of AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.5 %

AbbVie stock opened at $175.76 on Wednesday. AbbVie Inc. has a 1-year low of $150.16 and a 1-year high of $207.32. The firm has a market capitalization of $310.59 billion, a price-to-earnings ratio of 61.03, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58. The firm’s fifty day moving average price is $186.35 and its two-hundred day moving average price is $182.67. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

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

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. 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 3.73%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analysts Set New Price Targets

ABBV has been the topic of several research reports. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Finally, Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.19.

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.