AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by Ashford Capital Management Inc.

Ashford Capital Management Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 35.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,390 shares of the company’s stock after purchasing an additional 1,410 shares during the quarter. Ashford Capital Management Inc.’s holdings in AbbVie were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the 2nd quarter valued at approximately $27,000. Groupama Asset Managment grew 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 buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter worth $28,000. Finally, Quest Partners LLC lifted its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their target price 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. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Five equities research 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. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $202.38.

AbbVie Stock Up 0.2 %

Shares of NYSE:ABBV opened at $176.63 on Tuesday. The firm has a 50 day simple moving average of $186.35 and a 200 day simple moving average of $182.67. AbbVie Inc. has a 52 week low of $150.16 and a 52 week high of $207.32. 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 company has a market cap of $312.12 billion, a PE ratio of 61.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the firm posted $2.95 earnings per share. AbbVie’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 dividend yield of 3.71%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

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.