Hanlon Investment Management Inc. Has $269,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Hanlon Investment Management Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,360 shares of the company’s stock after buying an additional 180 shares during the quarter. Hanlon Investment Management Inc.’s holdings in AbbVie were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Management Corp VA bought a new position in shares of AbbVie in the 3rd quarter worth $215,000. Amalgamated Bank raised its holdings in AbbVie by 3.8% during the third quarter. Amalgamated Bank now owns 381,018 shares of the company’s stock worth $75,243,000 after buying an additional 14,111 shares during the last quarter. Clarity Financial LLC lifted its stake in shares of AbbVie by 7.8% in the third quarter. Clarity Financial LLC now owns 166,746 shares of the company’s stock valued at $32,929,000 after buying an additional 12,121 shares in the last quarter. United Advisor Group LLC grew its holdings in shares of AbbVie by 89.9% during the third quarter. United Advisor Group LLC now owns 4,382 shares of the company’s stock valued at $865,000 after buying an additional 2,075 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC increased its position in shares of AbbVie by 0.3% during the third quarter. Cary Street Partners Asset Management LLC now owns 24,742 shares of the company’s stock worth $4,886,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $200.47 on Tuesday. The business’s 50 day simple moving average is $194.18 and its 200 day simple moving average is $179.85. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The company has a market cap of $354.10 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 2.54 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.27%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ABBV shares. Truist Financial lifted their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler raised their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

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.