GM Advisory Group LLC Purchases 276 Shares of AbbVie Inc. (NYSE:ABBV)

GM Advisory Group LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 12.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,534 shares of the company’s stock after purchasing an additional 276 shares during the quarter. GM Advisory Group LLC’s holdings in AbbVie were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Legal & General Group Plc boosted its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares during the last quarter. Janus Henderson Group PLC raised its holdings in AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after buying an additional 1,240,434 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AbbVie by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after purchasing an additional 623,569 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in AbbVie by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,051,598 shares of the company’s stock valued at $866,450,000 after purchasing an additional 381,871 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 3.0 %

NYSE:ABBV opened at $176.94 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $137.65 and a twelve month high of $207.32. The company has a market cap of $312.68 billion, a PE ratio of 61.44, a P/E/G ratio of 2.03 and a beta of 0.63. The company’s 50 day moving average is $189.47 and its two-hundred day moving average is $181.04.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (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 firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.71%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Citigroup dropped their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

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.