Leavell Investment Management Inc. Boosts Position in AbbVie Inc. (NYSE:ABBV)

Leavell Investment Management Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,045 shares of the company’s stock after buying an additional 8,076 shares during the quarter. AbbVie makes up approximately 0.8% of Leavell Investment Management Inc.’s portfolio, making the stock its 29th biggest holding. Leavell Investment Management Inc.’s holdings in AbbVie were worth $15,610,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Hawaiian Bank raised 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 in the last quarter. PGGM Investments lifted its position in AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares during the last quarter. Foresight Capital Management Advisors Inc. purchased a new position in AbbVie in the 2nd quarter worth approximately $1,349,000. Sumitomo Life Insurance Co. increased its holdings 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 raised its position in shares of AbbVie by 109.1% during 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 in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.3 %

Shares of ABBV traded up $0.54 during trading hours on Friday, reaching $201.05. 828,730 shares of the company traded hands, compared to its average volume of 5,304,228. The company has a quick ratio of 0.71, a current ratio of 0.81 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. The company’s fifty day moving average price is $194.41 and its two-hundred day moving average price is $180.25. The company has a market capitalization of $355.12 billion, a price-to-earnings ratio of 69.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released 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. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 EPS. Equities research analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on ABBV shares. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price objective on AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company increased their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.72.

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.