AbbVie Inc. (NYSE:ABBV) Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its position in AbbVie Inc. (NYSE:ABBV) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 829,877 shares of the company’s stock after acquiring an additional 16,917 shares during the period. Rockefeller Capital Management L.P.’s holdings in AbbVie were worth $163,862,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Quent Capital LLC grew its holdings in AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares during the period. Westwood Holdings Group Inc. grew its holdings in AbbVie by 9.3% in the first quarter. Westwood Holdings Group Inc. now owns 11,250 shares of the company’s stock valued at $2,049,000 after purchasing an additional 959 shares during the period. Clear Rock Advisors LLC increased its position in AbbVie by 0.7% during the first quarter. Clear Rock Advisors LLC now owns 19,921 shares of the company’s stock worth $3,628,000 after purchasing an additional 141 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in AbbVie by 40.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,805 shares of the company’s stock worth $1,239,000 after purchasing an additional 1,943 shares during the last quarter. Finally, OMC Financial Services LTD purchased a new position in AbbVie during the first quarter worth approximately $9,126,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABBV. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Piper Sandler increased their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Three 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 stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Trading Up 1.1 %

Shares of NYSE:ABBV opened at $183.08 on Friday. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $323.53 billion, a PE ratio of 63.57, a P/E/G ratio of 2.02 and a beta of 0.63. The company’s 50-day moving average price is $188.44 and its 200 day moving average price is $181.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 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.