Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,060 shares of the company's stock, valued at approximately $999,000.
A number of other institutional investors also recently modified their holdings of ABBV. GGM Financials LLC increased its position in shares of AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after acquiring an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc raised its stake in shares of AbbVie by 0.3% during the 3rd 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 in the last quarter. Dillon & Associates Inc. boosted its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. Frisch Financial Group Inc. grew its stake in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company's stock valued at $1,187,000 after buying an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp increased its holdings in 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 buying an additional 53 shares during the last quarter. Institutional investors own 70.23% of the company's stock.
Several brokerages recently issued reports on ABBV. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. BMO Capital Markets decreased their target price on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $203.89.
Read Our Latest Analysis on ABBV
ABBV opened at $164.99 on Friday. The firm has a market cap of $291.56 billion, a P/E ratio of 57.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. The business's fifty day moving average is $192.04 and its 200-day moving average is $180.91. AbbVie Inc. has a 52-week low of $137.05 and a 52-week high of $207.32. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given 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 annualized dividend and a yield of 3.98%. The ex-dividend date is Wednesday, January 15th. AbbVie's payout ratio is currently 227.78%.
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.
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