Northcape Wealth Management LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Northcape Wealth Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,682 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Northcape Wealth Management LLC’s holdings in AbbVie were worth $2,504,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in AbbVie in the 1st quarter valued at approximately $646,000. Quent Capital LLC increased its holdings in shares of AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares in the last quarter. Strait & Sound Wealth Management LLC raised its stake in shares of AbbVie by 1.0% in the first quarter. Strait & Sound Wealth Management LLC now owns 9,267 shares of the company’s stock worth $1,552,000 after purchasing an additional 94 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of AbbVie by 2.1% during the first quarter. Jacobi Capital Management LLC now owns 32,430 shares of the company’s stock valued at $5,906,000 after buying an additional 669 shares during the last quarter. Finally, Northern Capital Management Inc. increased its holdings in AbbVie by 6.7% in the 1st quarter. Northern Capital Management Inc. now owns 1,711 shares of the company’s stock worth $312,000 after buying an additional 107 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 2.8 %

Shares of ABBV stock opened at $164.91 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $137.05 and a one year high of $207.32. The company’s fifty day moving average price is $192.04 and its 200-day moving average price is $180.78. The company has a market capitalization of $291.42 billion, a price-to-earnings ratio of 57.26, a PEG ratio of 2.07 and a beta of 0.63.

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

AbbVie Increases Dividend

The business 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. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. BMO Capital Markets lowered their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday. They issued an “outperform” rating and a $205.00 target price for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $203.89.

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.