AbbVie Inc. (NYSE:ABBV) Stock Holdings Boosted by Sachetta LLC

Sachetta LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,788 shares of the company’s stock after buying an additional 201 shares during the period. Sachetta LLC’s holdings in AbbVie were worth $1,143,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Segall Bryant & Hamill LLC bought a new stake in shares of AbbVie during the 3rd quarter worth $8,169,000. Prospera Private Wealth LLC lifted its holdings in shares of AbbVie by 6.6% during the third quarter. Prospera Private Wealth LLC now owns 6,550 shares of the company’s stock valued at $1,294,000 after purchasing an additional 406 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. Counterweight Ventures LLC raised its holdings in AbbVie by 19.1% during the 3rd quarter. Counterweight Ventures LLC now owns 19,596 shares of the company’s stock worth $3,870,000 after buying an additional 3,148 shares during the period. Finally, West Family Investments Inc. lifted its stake in AbbVie by 10.8% during the third quarter. West Family Investments Inc. now owns 7,225 shares of the company’s stock valued at $1,427,000 after buying an additional 706 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $166.58 on Wednesday. The company has a market cap of $294.37 billion, a P/E ratio of 57.84, a P/E/G 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 company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a fifty day simple moving average of $190.79 and a 200 day simple moving average of $181.10.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $2.95 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase 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 dividend yield of 3.94%. AbbVie’s payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABBV. Guggenheim lifted their target price 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. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Bank of America boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.37.

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.