AbbVie Inc. (NYSE:ABBV) is Baugh & Associates LLC’s 6th Largest Position

Baugh & Associates LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 44,360 shares of the company’s stock after buying an additional 390 shares during the period. AbbVie makes up approximately 4.4% of Baugh & Associates LLC’s investment portfolio, making the stock its 6th largest position. Baugh & Associates LLC’s holdings in AbbVie were worth $8,534,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. Piper Sandler increased 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. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup increased their price objective on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Stock Performance

Shares of ABBV stock opened at $201.20 on Thursday. The company has a market capitalization of $355.39 billion, a P/E ratio of 69.86, a P/E/G ratio of 2.54 and a beta of 0.63. The business’s 50 day moving average is $194.41 and its two-hundred day moving average is $180.25. 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 Inc. has a 12-month low of $135.85 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (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 the consensus estimate of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 earnings per share. Analysts expect that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

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.