AbbVie Inc. $ABBV Stock Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,933 shares of the company’s stock after buying an additional 1,938 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in AbbVie were worth $42,097,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Woodley Farra Manion Portfolio Management Inc. boosted its holdings in AbbVie by 4.3% in the third quarter. Woodley Farra Manion Portfolio Management Inc. now owns 24,632 shares of the company’s stock worth $6,443,000 after purchasing an additional 1,022 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in AbbVie by 10.5% during the third quarter. Cornerstone Wealth Management LLC now owns 16,150 shares of the company’s stock worth $4,225,000 after buying an additional 1,532 shares during the last quarter. Csenge Advisory Group raised its holdings in AbbVie by 1.1% during the third quarter. Csenge Advisory Group now owns 25,426 shares of the company’s stock valued at $6,651,000 after buying an additional 268 shares in the last quarter. D.B. Root & Company LLC raised its holdings in AbbVie by 6.2% during the third quarter. D.B. Root & Company LLC now owns 1,499 shares of the company’s stock valued at $392,000 after buying an additional 88 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its position in shares of AbbVie by 19.1% in the third quarter. D Orazio & Associates Inc. now owns 6,567 shares of the company’s stock worth $1,718,000 after buying an additional 1,053 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Argus upped their price target on AbbVie from $250.00 to $270.00 in a research note on Tuesday, August 4th. Weiss Ratings raised AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Erste Group Bank raised AbbVie from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. HSBC increased their price target on AbbVie from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Finally, Canaccord Genuity Group lifted their price target on shares of AbbVie from $290.00 to $338.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $297.46.

AbbVie Price Performance

ABBV stock opened at $293.88 on Wednesday. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $302.93. The company has a 50-day moving average of $273.45 and a two-hundred day moving average of $239.80. The stock has a market capitalization of $519.46 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 1.33 and a beta of 0.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 30th. The company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.09. The company had revenue of $17.40 billion for the quarter, compared to the consensus estimate of $17.32 billion. AbbVie had a negative return on equity of 450.55% and a net margin of 15.67%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. Equities analysts expect that AbbVie Inc. will post 13.98 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be issued a $1.82 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.73. The ex-dividend date of this dividend is Friday, January 15th. This represents a $7.28 dividend on an annualized basis and a yield of 2.5%. AbbVie’s payout ratio is 125.30%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares of the company’s stock, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

About AbbVie

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas. Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.