AbbVie Inc. (NYSE:ABBV) Shares Purchased by BBR Partners LLC

BBR Partners LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,465 shares of the company’s stock after buying an additional 6,578 shares during the quarter. AbbVie accounts for approximately 0.9% of BBR Partners LLC’s portfolio, making the stock its 13th largest holding. BBR Partners LLC’s holdings in AbbVie were worth $12,138,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie in the second quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $28,000. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.1 %

Shares of ABBV opened at $183.09 on Thursday. The stock’s fifty day simple moving average is $188.65 and its 200 day simple moving average is $181.59. AbbVie Inc. has a twelve month low of $137.65 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $323.55 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.58%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. UBS Group raised 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. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.50.

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.