Blueshift Asset Management LLC Has $1.34 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Blueshift Asset Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 12.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,789 shares of the company’s stock after acquiring an additional 738 shares during the period. Blueshift Asset Management LLC’s holdings in AbbVie were worth $1,341,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Fairway Wealth LLC bought a new position in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC grew its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC bought a new position in AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 2.3 %

NYSE:ABBV opened at $181.16 on Wednesday. The business’s 50-day simple moving average is $188.85 and its 200-day simple moving average is $181.58. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $320.14 billion, a PE ratio of 62.90, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.62%. AbbVie’s payout ratio is presently 215.28%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABBV. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Wells Fargo & Company raised their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

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.