PDS Planning Inc Increases Stake in AbbVie Inc. (NYSE:ABBV)

PDS Planning Inc boosted its position in AbbVie Inc. (NYSE:ABBV) by 4.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,502 shares of the company’s stock after purchasing an additional 4,623 shares during the quarter. AbbVie makes up approximately 1.9% of PDS Planning Inc’s investment portfolio, making the stock its 13th largest holding. PDS Planning Inc’s holdings in AbbVie were worth $21,427,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABBV. Fairway Wealth LLC acquired a new stake in AbbVie during the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at about $27,000. Quest Partners LLC boosted its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in AbbVie during the third quarter worth about $39,000. Finally, Burkett Financial Services LLC raised its position in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after acquiring an additional 82 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Bank of America increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley increased their price objective on AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $1.30 during trading on Monday, reaching $202.25. 494,476 shares of the company’s stock traded hands, compared to its average volume of 5,306,700. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a 50 day moving average of $194.12 and a 200-day moving average of $179.60. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The stock has a market capitalization of $357.24 billion, a P/E ratio of 70.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend yield of 3.24%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) 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.