Gilbert & Cook Inc. Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Gilbert & Cook Inc. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 14.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,193 shares of the company’s stock after purchasing an additional 1,132 shares during the period. Gilbert & Cook Inc.’s holdings in AbbVie were worth $1,815,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Marquette Asset Management LLC bought a new stake in AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ABBV shares. Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America lifted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $203.89.

AbbVie Stock Performance

AbbVie stock opened at $164.99 on Friday. The company has a market cap of $291.56 billion, a PE ratio of 57.29, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a twelve month low of $137.05 and a twelve month high of $207.32. The company’s 50-day moving average price is $192.04 and its 200-day moving average price is $180.91. 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 (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 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.