AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 12.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,635 shares of the company’s stock after purchasing an additional 9,937 shares during the period. AbbVie accounts for about 0.8% of Vinva Investment Management Ltd’s investment portfolio, making the stock its 21st largest position. Vinva Investment Management Ltd’s holdings in AbbVie were worth $17,655,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Wells Fargo & Company increased their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Up 1.1 %

NYSE:ABBV opened at $183.09 on Thursday. AbbVie Inc. has a one year low of $137.65 and a one year 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 company has a market cap of $323.55 billion, a PE ratio of 63.57, a P/E/G ratio of 2.02 and a beta of 0.63. The firm’s 50 day simple moving average is $188.65 and its 200 day simple moving average is $181.59.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 10.95 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. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, January 15th. AbbVie’s 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.