CFS Investment Advisory Services LLC Buys 72 Shares of AbbVie Inc. (NYSE:ABBV)

CFS Investment Advisory Services LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,641 shares of the company’s stock after acquiring an additional 72 shares during the period. CFS Investment Advisory Services LLC’s holdings in AbbVie were worth $4,866,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ABBV. Darden Wealth Group Inc lifted its holdings in shares of AbbVie by 3.4% during the third quarter. Darden Wealth Group Inc now owns 4,732 shares of the company’s stock valued at $934,000 after acquiring an additional 155 shares during the period. 49 Wealth Management LLC increased its holdings in shares of AbbVie by 224.0% during the third quarter. 49 Wealth Management LLC now owns 5,002 shares of the company’s stock worth $988,000 after buying an additional 3,458 shares in the last quarter. Lathrop Investment Management Corp boosted its holdings in shares of AbbVie by 13.3% in the 3rd quarter. Lathrop Investment Management Corp now owns 4,273 shares of the company’s stock worth $844,000 after acquiring an additional 500 shares in the last quarter. HealthInvest Partners AB raised its position in AbbVie by 24.9% in the 3rd quarter. HealthInvest Partners AB now owns 44,486 shares of the company’s stock valued at $8,785,000 after purchasing an additional 8,868 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in AbbVie by 5.1% during the 3rd quarter. Pacer Advisors Inc. now owns 391,915 shares of the company’s stock worth $77,395,000 after buying an additional 19,025 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $172.18 on Friday. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. The stock has a market capitalization of $304.27 billion, a price-to-earnings ratio of 59.78, a PEG ratio of 2.03 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business has a 50-day moving average of $189.81 and a 200-day moving average of $180.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

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.