AbbVie Inc. (NYSE:ABBV) Shares Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 26.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,708 shares of the company’s stock after acquiring an additional 15,284 shares during the period. IHT Wealth Management LLC’s holdings in AbbVie were worth $14,351,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter valued at approximately $999,000. Saturna Capital Corp raised its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. PGGM Investments boosted its stake in AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after acquiring an additional 24,756 shares during the last quarter. Avior Wealth Management LLC increased 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 worth $11,169,000 after purchasing an additional 10,768 shares during the last quarter. Finally, Schrum Private Wealth Management LLC lifted its position in shares of AbbVie by 57.5% during the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after purchasing an additional 6,065 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.3 %

Shares of NYSE ABBV traded up $0.62 during trading hours on Tuesday, hitting $182.39. The stock had a trading volume of 730,560 shares, compared to its average volume of 5,515,491. The company has a market capitalization of $322.31 billion, a P/E ratio of 63.11, a P/E/G ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a 52 week low of $142.66 and a 52 week high of $207.32. The firm’s 50-day moving average price is $187.99 and its two-hundred day moving average price is $182.14. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during 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%. During the same period in the previous year, the company earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.60%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analysts Set New Price Targets

A number of research firms have commented on ABBV. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Truist Financial boosted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

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.