Goodman Advisory Group LLC Purchases 1,620 Shares of AbbVie Inc. (NYSE:ABBV)

Goodman Advisory Group LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,534 shares of the company’s stock after buying an additional 1,620 shares during the period. Goodman Advisory Group LLC’s holdings in AbbVie were worth $3,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Greenwood Gearhart Inc. purchased a new stake in AbbVie in the third quarter valued at approximately $215,000. 3Chopt Investment Partners LLC grew its position in AbbVie by 2.6% during the third quarter. 3Chopt Investment Partners LLC now owns 13,368 shares of the company’s stock valued at $2,640,000 after acquiring an additional 338 shares during the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of AbbVie by 11.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 7,730 shares of the company’s stock worth $1,527,000 after acquiring an additional 810 shares during the last quarter. Prestige Wealth Management Group LLC grew its holdings in shares of AbbVie by 10.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,123 shares of the company’s stock valued at $814,000 after purchasing an additional 384 shares during the last quarter. Finally, Brophy Wealth Management LLC purchased a new position in AbbVie in the 3rd quarter worth $207,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.2 %

Shares of AbbVie stock opened at $176.63 on Tuesday. The company has a 50-day simple moving average of $186.35 and a two-hundred day simple moving average of $182.67. The stock has a market capitalization of $312.12 billion, a PE ratio of 61.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58. AbbVie Inc. has a 52-week low of $150.16 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (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 business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal 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. This is an increase from AbbVie’s previous quarterly dividend of $1.55. 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%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Five 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.

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.