Thrivent Financial for Lutherans Has $65.61 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Thrivent Financial for Lutherans increased its position in AbbVie Inc. (NYSE:ABBV) by 23.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 332,252 shares of the company’s stock after purchasing an additional 63,474 shares during the quarter. Thrivent Financial for Lutherans’ holdings in AbbVie were worth $65,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Sugar Maple Asset Management LLC boosted its holdings in AbbVie by 0.4% during the third quarter. Sugar Maple Asset Management LLC now owns 56,558 shares of the company’s stock worth $11,169,000 after buying an additional 207 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of AbbVie by 6.2% during the 3rd quarter. Claro Advisors LLC now owns 24,729 shares of the company’s stock valued at $4,884,000 after purchasing an additional 1,433 shares in the last quarter. Ceera Investments LLC lifted its holdings in shares of AbbVie by 5.1% during the 3rd quarter. Ceera Investments LLC now owns 9,631 shares of the company’s stock valued at $1,902,000 after purchasing an additional 469 shares in the last quarter. Concord Asset Management LLC VA lifted its holdings in shares of AbbVie by 10.5% during the 3rd quarter. Concord Asset Management LLC VA now owns 26,605 shares of the company’s stock valued at $5,254,000 after purchasing an additional 2,537 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of AbbVie during the 3rd quarter valued at about $77,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.8 %

ABBV stock opened at $166.26 on Tuesday. 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 market capitalization of $293.80 billion, a PE ratio of 57.73, a PEG ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a 1-year low of $137.14 and a 1-year high of $207.32. The business’s 50 day simple moving average is $191.44 and its 200 day simple moving average is $181.08.

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

AbbVie Increases Dividend

The firm also recently announced 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. 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 dividend on an annualized basis and a dividend yield of 3.95%. AbbVie’s payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABBV shares. Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wolfe Research started coverage on AbbVie in a report on Friday. They set an “outperform” rating and a $205.00 price objective on the stock. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets cut their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.89.

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.