AbbVie Inc. (NYSE:ABBV) Shares Bought by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL grew its holdings in AbbVie Inc. (NYSE:ABBV) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,622 shares of the company’s stock after purchasing an additional 900 shares during the quarter. AbbVie comprises approximately 2.2% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 16th largest holding. Birmingham Capital Management Co. Inc. AL’s holdings in AbbVie were worth $6,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GGM Financials LLC boosted its stake in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the period. Pine Haven Investment Counsel Inc increased its position in shares of AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. lifted its position in shares of AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the last quarter. Frisch Financial Group Inc. lifted its position in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp grew its position in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on ABBV. 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. Morgan Stanley lowered their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. TD Cowen boosted their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $203.65.

AbbVie Stock Up 0.4 %

NYSE:ABBV traded up $0.72 during mid-day trading on Friday, reaching $173.91. The stock had a trading volume of 514,548 shares, compared to its average volume of 5,512,188. The stock has a market cap of $307.32 billion, a P/E ratio of 60.13, a PEG ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $151.29 and a fifty-two week high of $207.32. 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’s 50 day moving average is $185.03 and its 200 day moving average is $182.68.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 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 business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 10.96 earnings per share 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 paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.77%. AbbVie’s dividend payout ratio (DPR) 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.