Larson Financial Group LLC Has $3.72 Million Stake in AbbVie Inc. (NYSE:ABBV)

Larson Financial Group LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,812 shares of the company’s stock after purchasing an additional 2,680 shares during the period. Larson Financial Group LLC’s holdings in AbbVie were worth $3,715,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in AbbVie by 1,745.0% during 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 period. Swedbank AB acquired a new stake in shares of AbbVie during the first quarter worth $367,372,000. Janus Henderson Group PLC increased its holdings in AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after purchasing an additional 1,240,434 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in AbbVie by 314.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock valued at $225,549,000 after purchasing an additional 997,441 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock valued at $1,516,358,000 after acquiring an additional 623,569 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 3.0 %

NYSE:ABBV opened at $176.95 on Friday. AbbVie Inc. has a 12 month low of $137.65 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $312.70 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 2.09 and a beta of 0.63. The firm has a fifty day simple moving average of $189.47 and a two-hundred day simple moving average of $181.17.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is currently 215.28%.

Analysts Set New Price Targets

Several equities research analysts have commented on ABBV shares. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday. Citigroup lowered their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Finally, TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $203.50.

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.