AbbVie Inc. (NYSE:ABBV) Position Increased by Caprock Group LLC

Caprock Group LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.0% in the third quarter, HoldingsChannel reports. The fund owned 41,197 shares of the company’s stock after buying an additional 3,747 shares during the quarter. Caprock Group LLC’s holdings in AbbVie were worth $8,136,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares in the last quarter. Capital World Investors grew its position in AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Capital International Investors increased its stake in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. Swedbank AB bought a new position in shares of AbbVie during the 1st quarter valued at $367,372,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AbbVie by 13.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock valued at $1,956,518,000 after purchasing an additional 1,291,201 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wolfe Research initiated coverage on AbbVie in a research note on Friday. They set an “outperform” rating and a $205.00 price target for the company. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Morgan Stanley lowered their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.89.

AbbVie Stock Up 0.8 %

Shares of NYSE ABBV opened at $166.26 on Tuesday. AbbVie Inc. has a 52-week low of $137.14 and a 52-week high of $207.32. 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 business has a fifty day moving average of $191.44 and a two-hundred day moving average of $181.08. The stock has a market cap of $293.80 billion, a PE ratio of 57.73, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $2.95 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.95 earnings per share 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.95%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

About AbbVie

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.