AbbVie Inc. (NYSE:ABBV) Shares Acquired by Frisch Financial Group Inc.

Frisch Financial Group Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,730 shares of the company’s stock after buying an additional 810 shares during the quarter. Frisch Financial Group Inc.’s holdings in AbbVie were worth $1,527,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ABBV. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the second quarter worth about $27,000. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at about $28,000. Finally, Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ABBV shares. Wells Fargo & Company raised their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.38.

AbbVie Stock Up 0.2 %

Shares of NYSE:ABBV opened at $176.63 on Tuesday. The business has a 50-day moving average price of $186.35 and a 200 day moving average price of $182.67. AbbVie Inc. has a 12-month low of $150.16 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 company has a market capitalization of $312.12 billion, a price-to-earnings ratio of 61.33, a PEG ratio of 2.01 and a beta of 0.58.

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

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio 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.