Capital Square LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Capital Square LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,187 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Associated Banc Corp lifted its stake in AbbVie by 8.9% during the third quarter. Associated Banc Corp now owns 39,423 shares of the company’s stock worth $7,785,000 after purchasing an additional 3,228 shares during the last quarter. Private Trust Co. NA lifted its position in shares of AbbVie by 1.6% in the 3rd quarter. Private Trust Co. NA now owns 35,722 shares of the company’s stock worth $7,054,000 after buying an additional 559 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in shares of AbbVie by 7.1% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 25,845 shares of the company’s stock valued at $5,104,000 after buying an additional 1,722 shares during the period. Truvestments Capital LLC grew its position in shares of AbbVie by 10.5% during the 3rd quarter. Truvestments Capital LLC now owns 21,821 shares of the company’s stock valued at $4,309,000 after buying an additional 2,082 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in AbbVie by 2.5% during the third quarter. Brown Brothers Harriman & Co. now owns 88,786 shares of the company’s stock worth $17,533,000 after acquiring an additional 2,182 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Piper Sandler raised their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Citigroup lowered their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. TD Cowen lifted their price objective 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 upped 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. Finally, BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $3.05 during trading on Monday, reaching $180.00. The stock had a trading volume of 1,819,555 shares, compared to its average volume of 5,501,307. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The stock has a fifty day simple moving average of $189.47 and a two-hundred day simple moving average of $181.32. 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 market capitalization of $318.09 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 2.16 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued 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 company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the business posted $2.95 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. 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. This represents a $6.56 annualized dividend and a dividend yield of 3.64%. AbbVie’s dividend payout ratio is presently 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.