Mosaic Financial Group LLC Buys Shares of 1,166 AbbVie Inc. (NYSE:ABBV)

Mosaic Financial Group LLC purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,166 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Aspire Private Capital LLC grew its stake in shares of AbbVie by 11.0% during the 2nd quarter. Aspire Private Capital LLC now owns 6,242 shares of the company’s stock valued at $1,071,000 after acquiring an additional 620 shares during the period. Park National Corp OH boosted its position in shares of AbbVie by 8.7% in the second quarter. Park National Corp OH now owns 146,099 shares of the company’s stock worth $25,059,000 after purchasing an additional 11,673 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in shares of AbbVie by 1.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 145,247 shares of the company’s stock worth $24,913,000 after purchasing an additional 2,291 shares in the last quarter. Financial Partners Group LLC lifted its stake in shares of AbbVie by 26.4% during the 2nd quarter. Financial Partners Group LLC now owns 3,024 shares of the company’s stock valued at $519,000 after buying an additional 632 shares in the last quarter. Finally, Occidental Asset Management LLC boosted its holdings in AbbVie by 1.6% in the 2nd quarter. Occidental Asset Management LLC now owns 7,453 shares of the company’s stock worth $1,278,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. BMO Capital Markets dropped their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. UBS Group upped 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. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.38.

AbbVie Price Performance

AbbVie stock opened at $176.19 on Friday. AbbVie Inc. has a 12-month low of $145.20 and a 12-month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a 50-day moving average price of $186.76 and a 200-day moving average price of $182.38. The firm has a market capitalization of $311.35 billion, a PE ratio of 61.18, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company earned $2.95 EPS. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business 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 $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.72%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

About AbbVie

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.