HealthInvest Partners AB Purchases 8,868 Shares of AbbVie Inc. (NYSE:ABBV)

HealthInvest Partners AB increased its holdings in AbbVie Inc. (NYSE:ABBV) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,486 shares of the company’s stock after purchasing an additional 8,868 shares during the quarter. AbbVie makes up 4.1% of HealthInvest Partners AB’s investment portfolio, making the stock its 7th biggest holding. HealthInvest Partners AB’s holdings in AbbVie were worth $8,785,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. GGM Financials LLC boosted its holdings in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the period. Pine Haven Investment Counsel Inc increased its stake in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. boosted its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares in the last quarter. Frisch Financial Group Inc. raised its stake in AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp lifted its position in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.3 %

AbbVie stock traded down $0.52 during trading on Thursday, reaching $167.24. The company had a trading volume of 252,673 shares, compared to its average volume of 5,465,793. The firm has a market capitalization of $295.54 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.03 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock’s 50 day moving average price is $190.25 and its two-hundred day moving average price is $181.01. AbbVie Inc. has a 12-month low of $137.65 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. AbbVie’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal 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 issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.92%. AbbVie’s payout ratio is currently 215.28%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ABBV shares. UBS Group upped their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Sanford C. Bernstein initiated 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. Citigroup reduced their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.37.

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.