Counterweight Ventures LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Counterweight Ventures LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 19.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,596 shares of the company’s stock after acquiring an additional 3,148 shares during the quarter. AbbVie accounts for about 2.7% of Counterweight Ventures LLC’s portfolio, making the stock its 11th largest position. Counterweight Ventures LLC’s holdings in AbbVie were worth $3,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. West Family Investments Inc. raised its holdings in AbbVie by 10.8% in the third quarter. West Family Investments Inc. now owns 7,225 shares of the company’s stock valued at $1,427,000 after acquiring an additional 706 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of AbbVie in the 3rd quarter valued at $89,420,000. Banque Cantonale Vaudoise lifted its position in shares of AbbVie by 10.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 48,408 shares of the company’s stock worth $9,560,000 after purchasing an additional 4,650 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of AbbVie by 14.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 44,132 shares of the company’s stock worth $8,715,000 after purchasing an additional 5,640 shares in the last quarter. Finally, Wrapmanager Inc. increased its holdings in AbbVie by 0.8% in the third quarter. Wrapmanager Inc. now owns 12,120 shares of the company’s stock valued at $2,393,000 after buying an additional 96 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ABBV. Wolfe Research began coverage on AbbVie in a research report on Friday. They set an “outperform” rating and a $205.00 price objective for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Citigroup dropped their price target 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. Bank of America boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.37.

AbbVie Stock Down 0.4 %

ABBV opened at $165.54 on Tuesday. AbbVie Inc. has a 52 week low of $137.14 and a 52 week high of $207.32. The business has a 50 day moving average price of $191.44 and a two-hundred day moving average price of $181.08. 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 company has a market cap of $292.53 billion, a PE ratio of 57.48, a P/E/G ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share 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 the consensus estimate of $14.28 billion. During the same period last year, the company earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.96%. 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 payout ratio is 215.28%.

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.