IHT Wealth Management LLC Acquires 15,284 Shares of AbbVie Inc. (NYSE:ABBV)

IHT Wealth Management LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 26.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,708 shares of the company’s stock after purchasing an additional 15,284 shares during the period. IHT Wealth Management LLC’s holdings in AbbVie were worth $14,351,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of AbbVie by 1,745.0% during 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 during the last quarter. Assenagon Asset Management S.A. increased its stake in AbbVie by 314.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock valued at $225,549,000 after buying an additional 997,441 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AbbVie by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after buying an additional 623,569 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp raised its holdings in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Up 0.3 %

ABBV stock traded up $0.62 during midday trading on Tuesday, reaching $182.39. 730,560 shares of the company’s stock traded hands, compared to its average volume of 5,515,491. The company has a market cap of $322.31 billion, a price-to-earnings ratio of 63.11, a P/E/G ratio of 2.09 and a beta of 0.58. The firm’s fifty day moving average price is $187.99 and its 200-day moving average price is $182.14. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $142.66 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted its 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 during 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.95 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.60%. AbbVie’s dividend 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.