Logan Capital Management Inc. Buys 192 Shares of AbbVie Inc. (NYSE:ABBV)

Logan Capital Management Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,516 shares of the company’s stock after acquiring an additional 192 shares during the quarter. AbbVie makes up about 0.9% of Logan Capital Management Inc.’s portfolio, making the stock its 24th biggest holding. Logan Capital Management Inc.’s holdings in AbbVie were worth $21,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie during the second quarter worth approximately $27,000. Groupama Asset Managment increased its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at $28,000. Finally, Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.2 %

ABBV traded down $0.29 during midday trading on Friday, reaching $172.90. 222,100 shares of the company were exchanged, compared to its average volume of 5,511,424. The company has a market cap of $305.54 billion, a price-to-earnings ratio of 60.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a one year low of $151.29 and a one year high of $207.32. The company’s fifty day moving average price is $185.03 and its 200 day moving average price is $182.68. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.65.

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.