Investors Financial Group LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,787 shares of the company’s stock after purchasing an additional 538 shares during the quarter. Investors Financial Group LLC’s holdings in AbbVie were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Capstone Financial Group Inc. bought a new stake in AbbVie in the second quarter valued at $25,000. RMR Wealth Builders bought a new stake in AbbVie in the second quarter valued at $44,000. Lake Point Wealth Management grew its position in AbbVie by 179.4% in the first quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock valued at $36,000 after acquiring an additional 305 shares during the period. Weaver Consulting Group grew its position in AbbVie by 64.3% in the second quarter. Weaver Consulting Group now owns 562 shares of the company’s stock valued at $55,000 after acquiring an additional 220 shares during the period. Finally, Jaffetilchin Investment Partners LLC bought a new stake in AbbVie in the second quarter valued at $68,000. Institutional investors and hedge funds own 68.23% of the company’s stock.

Shares of ABBV opened at $86.27 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $101.28. The firm has a market capitalization of $152.25 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The stock’s fifty day simple moving average is $89.38 and its 200-day simple moving average is $90.44.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.44 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s payout ratio is 52.80%.

A number of analysts have weighed in on ABBV shares. Citigroup upped their price target on AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. upped their price target on AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho restated a “buy” rating and set a $111.00 target price on shares of AbbVie in a report on Sunday, September 27th. Morgan Stanley increased their target price on AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Atlantic Securities upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $108.63.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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