Boyd Watterson Asset Management LLC OH Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Boyd Watterson Asset Management LLC OH grew its stake in AbbVie Inc. (NYSE:ABBV) by 6.0% during the third quarter, Holdings Channel.com reports. The fund owned 25,298 shares of the company’s stock after acquiring an additional 1,427 shares during the period. AbbVie accounts for about 1.4% of Boyd Watterson Asset Management LLC OH’s investment portfolio, making the stock its 18th biggest position. Boyd Watterson Asset Management LLC OH’s holdings in AbbVie were worth $4,996,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Fairway Wealth LLC purchased a new stake in AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $37,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at approximately $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Morgan Stanley increased their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Stock Up 0.1 %

Shares of NYSE:ABBV opened at $188.00 on Thursday. The stock has a market capitalization of $331.98 billion, a price-to-earnings ratio of 55.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company’s fifty day moving average is $194.22 and its two-hundred day moving average is $178.08. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.91 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.30%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

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.