Kerusso Capital Management LLC Has $1.32 Million Stake in AbbVie Inc. (NYSE:ABBV)

Kerusso Capital Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 6.5% in the third quarter, Holdings Channel reports. The institutional investor owned 6,658 shares of the company’s stock after buying an additional 406 shares during the period. Kerusso Capital Management LLC’s holdings in AbbVie were worth $1,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. acquired a new position in AbbVie during the first quarter valued at approximately $646,000. Quent Capital LLC increased its holdings in shares of AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after buying an additional 283 shares in the last quarter. NorthRock Partners LLC increased its holdings in shares of AbbVie by 7.3% during the first quarter. NorthRock Partners LLC now owns 25,292 shares of the company’s stock worth $4,606,000 after buying an additional 1,728 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of AbbVie by 3.5% during the first quarter. Meeder Advisory Services Inc. now owns 29,596 shares of the company’s stock worth $5,389,000 after buying an additional 1,006 shares in the last quarter. Finally, Verus Capital Partners LLC increased its holdings in shares of AbbVie by 1.6% during the first quarter. Verus Capital Partners LLC now owns 64,640 shares of the company’s stock worth $11,771,000 after buying an additional 990 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $199.50 on Friday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The stock has a market cap of $352.54 billion, a price-to-earnings ratio of 69.27, a PEG ratio of 2.46 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65. The firm’s 50-day simple moving average is $194.58 and its 200 day simple moving average is $180.61.

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 the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the firm earned $2.95 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company 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 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 yield of 3.29%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. 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. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.82.

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.