AbbVie Inc. (NYSE:ABBV) Shares Purchased by Arlington Capital Management Inc.

Arlington Capital Management Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 15.5% in the third quarter, HoldingsChannel reports. The fund owned 1,506 shares of the company’s stock after purchasing an additional 202 shares during the period. Arlington Capital Management Inc.’s holdings in AbbVie were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the second quarter worth approximately $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter valued at $39,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Finally, Burkett Financial Services LLC grew its holdings in AbbVie by 61.2% in the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on ABBV. Bank of America increased their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. BMO Capital Markets increased their price objective on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. TD Cowen increased their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Stock Performance

ABBV stock traded down $1.73 during trading on Monday, reaching $201.82. 667,877 shares of the stock were exchanged, compared to its average volume of 5,307,515. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The company has a market capitalization of $356.48 billion, a P/E ratio of 70.08, a price-to-earnings-growth ratio of 2.78 and a beta of 0.63. The stock has a 50 day simple moving average of $194.12 and a 200-day simple moving average of $179.60. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

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. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change 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 annualized dividend and a dividend yield of 3.25%. AbbVie’s payout ratio is 215.28%.

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.