Tudor Financial Inc. Purchases Shares of 2,253 AbbVie Inc. (NYSE:ABBV)

Tudor Financial Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the third quarter, Holdings Channel reports. The fund purchased 2,253 shares of the company’s stock, valued at approximately $445,000.

A number of other institutional investors have also bought and sold shares of ABBV. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie during the third quarter valued at about $999,000. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. Avior Wealth Management LLC raised its holdings in shares of AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. Schrum Private Wealth Management LLC raised its holdings 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 valued at $3,282,000 after purchasing an additional 6,065 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of AbbVie by 8.3% during the third quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock valued at $15,377,000 after purchasing an additional 5,993 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABBV shares. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $203.65.

AbbVie Stock Performance

NYSE ABBV opened at $174.40 on Thursday. AbbVie Inc. has a 1 year low of $150.16 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $308.19 billion, a PE ratio of 60.56, a P/E/G ratio of 2.01 and a beta of 0.58. The company’s 50 day simple moving average is $185.92 and its two-hundred day simple moving average is $182.80.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.95 EPS. Analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

AbbVie 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.