AbbVie Inc. (NYSE:ABBV) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 597,740 shares of the company’s stock after buying an additional 5,996 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AbbVie were worth $118,042,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Providence Capital Advisors LLC increased its stake in AbbVie by 0.7% in the 3rd quarter. Providence Capital Advisors LLC now owns 16,219 shares of the company’s stock worth $3,203,000 after purchasing an additional 118 shares in the last quarter. BBR Partners LLC boosted its holdings in shares of AbbVie by 12.0% in the third quarter. BBR Partners LLC now owns 61,465 shares of the company’s stock worth $12,138,000 after buying an additional 6,578 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the third quarter worth about $28,000. CreativeOne Wealth LLC increased its position in shares of AbbVie by 30.2% in the third quarter. CreativeOne Wealth LLC now owns 37,526 shares of the company’s stock worth $7,411,000 after acquiring an additional 8,706 shares in the last quarter. Finally, Blueshift Asset Management LLC raised its holdings in shares of AbbVie by 12.2% during the third quarter. Blueshift Asset Management LLC now owns 6,789 shares of the company’s stock valued at $1,341,000 after acquiring an additional 738 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 1.1 %

ABBV stock opened at $183.09 on Thursday. The firm has a market cap of $323.55 billion, a PE ratio of 63.57, a PEG ratio of 2.02 and a beta of 0.63. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The company has a fifty day simple moving average of $188.65 and a 200 day simple moving average of $181.59. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Finally, TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Company 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.