AbbVie Inc. (NYSE:ABBV) is Baugh & Associates LLC’s 6th Largest Position

Baugh & Associates LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,360 shares of the company’s stock after purchasing an additional 390 shares during the quarter. AbbVie makes up 4.4% of Baugh & Associates LLC’s portfolio, making the stock its 6th biggest holding. Baugh & Associates LLC’s holdings in AbbVie were worth $8,534,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABBV. Vanguard Group Inc. increased its stake in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. International Assets Investment Management LLC increased its stake in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. Capital World Investors increased its stake in AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares during the last quarter. Capital International Investors increased its stake in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in AbbVie by 156.0% in the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after acquiring an additional 2,116,997 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $201.20 on Thursday. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The stock has a market capitalization of $355.39 billion, a price-to-earnings ratio of 69.86, a P/E/G ratio of 2.54 and a beta of 0.63. The stock has a fifty day simple moving average of $194.41 and a two-hundred day simple moving average of $180.25. 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 earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business earned $2.95 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. UBS Group boosted their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen boosted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Citigroup boosted their target price on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.72.

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.