AbbVie Inc. (NYSE:ABBV) Shares Acquired by Norris Perne & French LLP MI

Norris Perne & French LLP MI boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,747 shares of the company’s stock after acquiring an additional 60 shares during the period. Norris Perne & French LLP MI’s holdings in AbbVie were worth $542,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ABBV. FORVIS Wealth Advisors LLC lifted its position in shares of AbbVie by 7.9% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 16,665 shares of the company’s stock worth $3,035,000 after buying an additional 1,223 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in AbbVie by 0.6% in the first quarter. Maryland State Retirement & Pension System now owns 138,163 shares of the company’s stock valued at $25,159,000 after acquiring an additional 774 shares during the period. Strategic Advisors LLC grew its holdings in shares of AbbVie by 6.0% during the first quarter. Strategic Advisors LLC now owns 64,155 shares of the company’s stock valued at $11,683,000 after purchasing an additional 3,628 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its position in shares of AbbVie by 6.1% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 8,438 shares of the company’s stock worth $1,537,000 after purchasing an additional 486 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC lifted its holdings in shares of AbbVie by 9.4% in the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 1,603 shares of the company’s stock worth $292,000 after purchasing an additional 138 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup upped their price objective on AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Bank of America lifted their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company raised their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $201.00.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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 of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.2 %

AbbVie stock opened at $203.87 on Friday. AbbVie Inc. has a one year low of $135.85 and a one year high of $207.32. The company’s fifty day moving average price is $194.00 and its two-hundred day moving average price is $179.09. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market capitalization of $360.10 billion, a price-to-earnings ratio of 70.79, a PEG ratio of 2.76 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates 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 226.99% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.95 EPS. On average, analysts forecast that AbbVie Inc. will post 10.9 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 215.28%.

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.