Oppenheimer Asset Management Inc. Has $40.86 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Oppenheimer Asset Management Inc. grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,887 shares of the company’s stock after acquiring an additional 2,917 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AbbVie were worth $40,856,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GGM Financials LLC increased its position in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the period. Pine Haven Investment Counsel Inc lifted its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. boosted its holdings in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. Frisch Financial Group Inc. boosted its stake in AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp raised its holdings in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $0.44 on Wednesday, reaching $171.53. 1,537,100 shares of the company’s stock were exchanged, compared to its average volume of 5,396,311. The business’s 50-day moving average is $194.14 and its two-hundred day moving average is $180.83. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a fifty-two week low of $136.30 and a fifty-two week high of $207.32. The firm has a market capitalization of $303.12 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 2.12 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.82%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is currently 215.28%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Morgan Stanley dropped their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.83.

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.