Investmark Advisory Group LLC Buys 347 Shares of AbbVie Inc. (NYSE:ABBV)

Investmark Advisory Group LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,092 shares of the company’s stock after buying an additional 347 shares during the quarter. AbbVie accounts for about 2.5% of Investmark Advisory Group LLC’s portfolio, making the stock its 8th largest holding. Investmark Advisory Group LLC’s holdings in AbbVie were worth $5,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after buying an additional 134,239 shares in the last quarter. FMR LLC boosted its position in AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AbbVie by 6.1% during 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. Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 623,569 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. 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 report on Friday, October 18th. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley cut their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Down 0.2 %

ABBV stock opened at $181.40 on Tuesday. The company has a fifty day moving average of $187.99 and a 200-day moving average of $182.14. AbbVie Inc. has a one year low of $142.66 and a one year high of $207.32. The stock has a market capitalization of $320.56 billion, a PE ratio of 63.11, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company 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% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. As a group, analysts expect that AbbVie Inc. will post 10.95 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 issued a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 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.