GLOBALT Investments LLC GA Invests $3.78 Million in AbbVie Inc. (NYSE:ABBV)

GLOBALT Investments LLC GA acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,156 shares of the company’s stock, valued at approximately $3,783,000.

A number of other hedge funds also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the second quarter worth $27,000. Quest Partners LLC lifted its holdings 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 buying an additional 207 shares during the period. Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. UBS Group raised their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Citigroup decreased their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $203.89.

AbbVie Stock Down 2.7 %

ABBV stock opened at $164.99 on Monday. The firm’s fifty day moving average is $192.04 and its 200 day moving average is $181.04. The firm has a market cap of $291.56 billion, a PE ratio of 57.29, a P/E/G ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a one year low of $137.05 and a one year 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 issued 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts forecast 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 paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

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.