AbbVie Inc. (NYSE:ABBV) Shares Acquired by Capital Investment Counsel LLC

Capital Investment Counsel LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,471 shares of the company’s stock after buying an additional 869 shares during the quarter. AbbVie comprises about 1.8% of Capital Investment Counsel LLC’s investment portfolio, making the stock its 14th biggest position. Capital Investment Counsel LLC’s holdings in AbbVie were worth $10,362,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the third quarter valued at $999,000. Saturna Capital Corp raised its stake in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $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 during the last quarter. Schrum Private Wealth Management LLC increased its position in shares of AbbVie by 57.5% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% in the 3rd 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. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Bank of America boosted their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. UBS Group raised their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Truist Financial lifted their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.50.

AbbVie Trading Up 3.0 %

NYSE:ABBV opened at $176.95 on Friday. AbbVie Inc. has a 12-month low of $137.65 and a 12-month high of $207.32. The firm has a market capitalization of $312.70 billion, a P/E ratio of 61.44, a P/E/G ratio of 2.09 and a beta of 0.63. The business has a 50 day simple moving average of $189.47 and a 200 day simple moving average of $181.17. 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 (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $2.95 EPS. Equities research analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

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.