Benjamin Edwards Inc. Acquires 298,322 Shares of AbbVie Inc. (NYSE:ABBV)

Benjamin Edwards Inc. grew its stake in AbbVie Inc. (NYSE:ABBV) by 792.5% during the third quarter, HoldingsChannel.com reports. The firm owned 335,966 shares of the company’s stock after buying an additional 298,322 shares during the period. AbbVie makes up about 1.0% of Benjamin Edwards Inc.’s holdings, making the stock its 12th biggest holding. Benjamin Edwards Inc.’s holdings in AbbVie were worth $66,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the 2nd quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter worth $28,000. Quest Partners LLC increased its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at about $39,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Bank of America upped their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Truist Financial upped their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Trading Down 0.1 %

Shares of ABBV stock opened at $182.93 on Monday. AbbVie Inc. has a 12-month low of $138.01 and a 12-month high of $207.32. The company has a market capitalization of $323.26 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. The firm has a 50 day moving average price of $188.23 and a two-hundred day moving average price of $182.02. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 EPS. As a group, analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost 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 yield of 3.59%. AbbVie’s payout ratio is 215.28%.

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.