HTG Investment Advisors Inc. Takes Position in AbbVie Inc. (NYSE:ABBV)

HTG Investment Advisors Inc. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,050 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Fairway Wealth LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at approximately $27,000. Quest Partners LLC boosted its stake in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Marquette Asset Management LLC purchased a new position in shares of AbbVie during the 3rd quarter valued at approximately $39,000. Finally, Burkett Financial Services LLC lifted its stake in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABBV. BMO Capital Markets raised their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price objective on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial raised their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.82.

AbbVie Price Performance

Shares of ABBV opened at $199.50 on Friday. The firm has a market capitalization of $352.54 billion, a price-to-earnings ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65. AbbVie Inc. has a one year low of $135.85 and a one year high of $207.32. The stock’s fifty day moving average is $194.58 and its 200-day moving average is $180.61.

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. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

AbbVie Company 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.