AbbVie Inc. (NYSE:ABBV) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in AbbVie Inc. (NYSE:ABBV) by 53.3% during the 3rd quarter, Holdings Channel reports. The firm owned 157,560 shares of the company’s stock after buying an additional 54,769 shares during the quarter. Quantinno Capital Management LP’s holdings in AbbVie were worth $31,115,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the second quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie in the third quarter valued at approximately $28,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the third quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Finally, Citigroup lowered their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Price Performance

NYSE:ABBV opened at $176.55 on Thursday. AbbVie Inc. has a 52 week low of $142.66 and a 52 week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $311.99 billion, a P/E ratio of 61.30, a P/E/G ratio of 2.08 and a beta of 0.58. The stock’s fifty day moving average is $187.45 and its two-hundred day moving average is $182.21.

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

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.72%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

AbbVie 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.