Meeder Advisory Services Inc. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Meeder Advisory Services Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,122 shares of the company’s stock after purchasing an additional 1,173 shares during the quarter. Meeder Advisory Services Inc.’s holdings in AbbVie were worth $7,726,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie in the second quarter valued at approximately $27,000. Quest Partners LLC grew its position in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of AbbVie in the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $165.21 on Monday. The firm’s 50 day moving average is $192.04 and its two-hundred day moving average is $181.04. AbbVie Inc. has a 52 week low of $137.14 and a 52 week high of $207.32. The firm has a market capitalization of $291.95 billion, a P/E ratio of 57.29, a PEG ratio of 2.01 and a beta of 0.63. 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 (NYSE:ABBV) last posted its quarterly earnings results 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. The firm had revenue of $14.46 billion for 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.97%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. UBS Group upped their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley reduced their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Company 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.