Lowe Brockenbrough & Co. Inc. Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Lowe Brockenbrough & Co. Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 15.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,274 shares of the company’s stock after purchasing an additional 4,299 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in AbbVie were worth $6,176,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Fairway Wealth LLC purchased a new position in shares of AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the 2nd quarter valued at approximately $27,000. Marquette Asset Management LLC acquired a new position in AbbVie during the 3rd quarter valued at approximately $39,000. Quest Partners LLC raised its holdings in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC lifted its stake in shares of AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

AbbVie Trading Down 0.2 %

ABBV stock opened at $203.55 on Friday. The business’s 50-day moving average is $194.12 and its 200 day moving average is $179.38. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The stock has a market cap of $359.54 billion, a price-to-earnings ratio of 70.68, a PEG ratio of 2.76 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.9 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. Truist Financial raised their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup upped their target price on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley raised their price target on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

About AbbVie

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.