AbbVie Inc. (NYSE:ABBV) Holdings Raised by Moody Lynn & Lieberson LLC

Moody Lynn & Lieberson LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 16.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,165 shares of the company’s stock after purchasing an additional 25,850 shares during the quarter. AbbVie makes up about 2.2% of Moody Lynn & Lieberson LLC’s holdings, making the stock its 14th biggest position. Moody Lynn & Lieberson LLC’s holdings in AbbVie were worth $35,776,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the period. International Assets Investment Management LLC increased its position in 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 acquiring an additional 4,471,806 shares in the last quarter. Capital World Investors increased its position in AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Capital International Investors grew its position 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 buying an additional 3,110,601 shares during the period. Finally, TD Asset Management Inc grew its position in shares of AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after buying an additional 2,116,997 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. BMO Capital Markets boosted their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Bank of America boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $198.47.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.0 %

ABBV stock opened at $189.68 on Friday. The firm’s fifty day simple moving average is $194.22 and its 200-day simple moving average is $178.08. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a market capitalization of $334.95 billion, a P/E ratio of 56.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $2.91 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

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.