AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Plato Investment Management Ltd

Plato Investment Management Ltd boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,564 shares of the company’s stock after purchasing an additional 930 shares during the period. AbbVie accounts for 1.0% of Plato Investment Management Ltd’s investment portfolio, making the stock its 12th biggest holding. Plato Investment Management Ltd’s holdings in AbbVie were worth $11,948,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Schrum Private Wealth Management LLC increased its stake in AbbVie by 57.5% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares during the period. Oppenheimer Asset Management Inc. lifted its position in AbbVie by 1.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 206,887 shares of the company’s stock worth $40,856,000 after buying an additional 2,917 shares in the last quarter. Angeles Investment Advisors LLC boosted its stake in shares of AbbVie by 3.8% during the 3rd quarter. Angeles Investment Advisors LLC now owns 1,706 shares of the company’s stock valued at $337,000 after buying an additional 62 shares during the period. Finally, Saturna Capital Corp grew its holdings in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Down 0.4 %

Shares of NYSE:ABBV opened at $170.46 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock’s 50-day moving average is $193.61 and its 200-day moving average is $180.91. The company has a market cap of $301.23 billion, a P/E ratio of 59.19, a P/E/G ratio of 2.08 and a beta of 0.63. AbbVie Inc. has a 52-week low of $136.30 and a 52-week high of $207.32.

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

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.85%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen raised 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. Finally, UBS Group boosted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $203.83.

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.