AbbVie Inc. (NYSE:ABBV) Shares Purchased by Lifestyle Asset Management Inc.

Lifestyle Asset Management Inc. grew its holdings in AbbVie Inc. (NYSE:ABBV) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in AbbVie were worth $294,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ABBV. Fairway Wealth LLC acquired a new stake in AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the second quarter valued at approximately $27,000. Marquette Asset Management LLC purchased a new position in AbbVie in the third quarter worth approximately $39,000. Quest Partners LLC increased its stake in 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 acquiring an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC raised its position in AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ABBV shares. Bank of America boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Citigroup upped their price target on AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler raised their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley raised their price objective on shares of AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $202.72.

AbbVie Price Performance

Shares of NYSE ABBV opened at $200.46 on Friday. The stock’s 50-day simple moving average is $194.41 and its 200-day simple moving average is $180.25. The firm has a market capitalization of $354.08 billion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company 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 226.99%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.27%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. 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.