Prudent Man Advisors LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Prudent Man Advisors LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 64.5% in the third quarter, HoldingsChannel.com reports. The firm owned 5,840 shares of the company’s stock after acquiring an additional 2,289 shares during the quarter. Prudent Man Advisors LLC’s holdings in AbbVie were worth $1,153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its position in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. First Hawaiian Bank boosted its stake in AbbVie by 9.0% in the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after acquiring an additional 2,657 shares in the last quarter. PGGM Investments grew its holdings in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after purchasing an additional 24,756 shares during the last quarter. Finally, Schrum Private Wealth Management LLC increased its position 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 worth $3,282,000 after purchasing an additional 6,065 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. 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 research report on Tuesday, November 12th. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Truist Financial increased their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets dropped their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.89.

AbbVie Stock Down 2.7 %

Shares of NYSE ABBV opened at $164.99 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a 50-day moving average price of $192.04 and a 200 day moving average price of $181.04. AbbVie Inc. has a 52 week low of $137.05 and a 52 week high of $207.32. The stock has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 analyst estimates of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. 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.