Intrepid Capital Management Inc. Has $298,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Intrepid Capital Management Inc. raised its stake in AbbVie Inc. (NYSE:ABBV) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510 shares of the company’s stock after buying an additional 138 shares during the period. Intrepid Capital Management Inc.’s holdings in AbbVie were worth $298,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth $28,000. Quest Partners LLC lifted its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in shares of AbbVie during the third quarter worth $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.7 %

NYSE:ABBV traded up $1.30 on Tuesday, reaching $183.07. 615,807 shares of the stock traded hands, compared to its average volume of 5,515,042. The company has a market capitalization of $323.51 billion, a price-to-earnings ratio of 63.11, a PEG ratio of 2.09 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $142.66 and a 12 month high of $207.32. The company’s fifty day simple moving average is $187.99 and its 200 day simple moving average is $182.14.

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

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.58%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is 215.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.50.

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.