AbbVie Inc. (NYSE:ABBV) Shares Bought by Carr Financial Group Corp

Carr Financial Group Corp grew its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,274 shares of the company’s stock after buying an additional 56 shares during the period. Carr Financial Group Corp’s holdings in AbbVie were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atria Investments Inc boosted its position in AbbVie by 1.8% in the third quarter. Atria Investments Inc now owns 170,620 shares of the company’s stock valued at $33,694,000 after buying an additional 3,065 shares during the last quarter. Essex Savings Bank lifted its stake in AbbVie by 7.0% during the 3rd quarter. Essex Savings Bank now owns 13,589 shares of the company’s stock valued at $2,684,000 after acquiring an additional 885 shares during the period. Kerusso Capital Management LLC boosted its holdings in shares of AbbVie by 6.5% in the 3rd quarter. Kerusso Capital Management LLC now owns 6,658 shares of the company’s stock valued at $1,315,000 after acquiring an additional 406 shares during the last quarter. Objective Capital Management LLC acquired a new stake in shares of AbbVie in the third quarter worth $373,000. Finally, SilverOak Wealth Management LLC purchased a new position in shares of AbbVie during the third quarter worth $210,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABBV. UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Bank of America raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Guggenheim boosted their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.82.

AbbVie Stock Down 0.5 %

ABBV opened at $199.50 on Friday. The company has a market cap of $352.54 billion, a PE ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The company has a 50-day moving average price of $194.58 and a 200 day moving average price of $180.61. The company has a quick ratio of 0.71, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio 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.