AbbVie Inc. (NYSE:ABBV) Holdings Raised by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,345 shares of the company’s stock after buying an additional 554 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in AbbVie were worth $4,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Hawaiian Bank grew its position in AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after purchasing an additional 2,657 shares during the last quarter. PGGM Investments boosted its position in AbbVie by 308.1% in the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares in the last quarter. Foresight Capital Management Advisors Inc. acquired a new position in AbbVie in the second quarter valued at about $1,349,000. Sumitomo Life Insurance Co. boosted its position in AbbVie by 29.6% in the third quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock valued at $5,333,000 after buying an additional 6,161 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC raised its stake in shares of AbbVie by 109.1% in the third quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,301 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABBV. Morgan Stanley boosted their target price on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Wells Fargo & Company increased their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Stock Performance

NYSE ABBV opened at $200.47 on Tuesday. The company has a fifty day simple moving average of $194.18 and a 200 day simple moving average of $179.85. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The company has a market cap of $354.10 billion, a P/E ratio of 69.61, a PEG ratio of 2.78 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. The firm had revenue of $14.46 billion for 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 226.99%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 EPS. Sell-side analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

AbbVie 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.