StoneX Group Inc. Has $6.46 Million Position in AbbVie Inc. (NYSE:ABBV)

StoneX Group Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,720 shares of the company’s stock after purchasing an additional 2,138 shares during the period. StoneX Group Inc.’s holdings in AbbVie were worth $6,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truepoint Inc. lifted its holdings in shares of AbbVie by 34.0% during the 3rd quarter. Truepoint Inc. now owns 2,256 shares of the company’s stock valued at $446,000 after purchasing an additional 573 shares in the last quarter. Algert Global LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $1,436,000. Canopy Partners LLC lifted its stake in AbbVie by 1.4% in the third quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock valued at $860,000 after buying an additional 59 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of AbbVie by 3.2% in the third quarter. Kingsview Wealth Management LLC now owns 74,101 shares of the company’s stock valued at $14,633,000 after buying an additional 2,272 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of AbbVie by 22.7% during the third quarter. Cerity Partners LLC now owns 834,464 shares of the company’s stock worth $164,790,000 after acquiring an additional 154,337 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $176.95 on Friday. The company’s 50-day moving average is $189.47 and its 200-day moving average is $181.17. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $312.70 billion, a PE ratio of 61.44, a PEG ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the firm earned $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ABBV shares. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Citigroup cut their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Company Profile

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.