Lindbrook Capital LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Lindbrook Capital LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,499 shares of the company’s stock after purchasing an additional 265 shares during the period. Lindbrook Capital LLC’s holdings in AbbVie were worth $2,271,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ABBV. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC grew its position in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter valued at about $39,000. Finally, Burkett Financial Services LLC raised its holdings in AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets lifted their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $202.72.

AbbVie Stock Down 0.5 %

ABBV opened at $199.57 on Friday. The firm’s 50 day simple moving average is $194.58 and its two-hundred day simple moving average is $180.61. The company has a market capitalization of $352.67 billion, a PE ratio of 69.30, a PEG ratio of 2.51 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $207.32. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 return on equity of 226.99% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.29%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.