AbbVie Inc. (NYSE:ABBV) Shares Acquired by Jackson Square Capital LLC

Jackson Square Capital LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,786 shares of the company’s stock after purchasing an additional 555 shares during the period. AbbVie comprises 1.3% of Jackson Square Capital LLC’s portfolio, making the stock its 24th largest position. Jackson Square Capital LLC’s holdings in AbbVie were worth $5,092,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. First Hawaiian Bank increased its holdings in shares of AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after acquiring an additional 2,657 shares during the last quarter. PGGM Investments boosted its holdings in AbbVie by 308.1% in the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after purchasing an additional 24,756 shares during the period. Foresight Capital Management Advisors Inc. bought a new stake in AbbVie during the second quarter valued at $1,349,000. Sumitomo Life Insurance Co. lifted its position in shares of AbbVie by 29.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock worth $5,333,000 after buying an additional 6,161 shares during the last quarter. Finally, Ullmann Wealth Partners Group LLC boosted its holdings in shares of AbbVie by 109.1% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock valued at $1,249,000 after buying an additional 3,301 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America upped their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets upped their price objective on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $201.20 on Thursday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock 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 has a 50-day moving average of $194.41 and a two-hundred day moving average of $180.25. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company earned $2.95 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 10.97 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 dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 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.