AbbVie Inc. (NYSE:ABBV) is Sugar Maple Asset Management LLC’s 2nd Largest Position

Sugar Maple Asset Management LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,558 shares of the company’s stock after purchasing an additional 207 shares during the period. AbbVie accounts for 9.7% of Sugar Maple Asset Management LLC’s portfolio, making the stock its 2nd biggest position. Sugar Maple Asset Management LLC’s holdings in AbbVie were worth $11,169,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Claro Advisors LLC grew its position in shares of AbbVie by 6.2% in the 3rd quarter. Claro Advisors LLC now owns 24,729 shares of the company’s stock worth $4,884,000 after buying an additional 1,433 shares during the period. Ceera Investments LLC boosted its stake in AbbVie by 5.1% during the third quarter. Ceera Investments LLC now owns 9,631 shares of the company’s stock worth $1,902,000 after acquiring an additional 469 shares in the last quarter. Concord Asset Management LLC VA grew its holdings in AbbVie by 10.5% in the third quarter. Concord Asset Management LLC VA now owns 26,605 shares of the company’s stock worth $5,254,000 after purchasing an additional 2,537 shares during the period. Peterson Financial Group Inc. bought a new position in shares of AbbVie during the third quarter valued at approximately $77,000. Finally, Tower Bridge Advisors lifted its holdings in shares of AbbVie by 5.0% during the third quarter. Tower Bridge Advisors now owns 40,003 shares of the company’s stock valued at $7,900,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets decreased their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.89.

AbbVie Stock Down 2.7 %

AbbVie stock opened at $164.99 on Friday. AbbVie Inc. has a one year low of $137.05 and a one year high of $207.32. The stock has a fifty day moving average of $192.04 and a 200 day moving average of $180.91. 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 stock has a market cap of $291.56 billion, a PE ratio of 57.29, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 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 analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm 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 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 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.