AbbVie Inc. (NYSE:ABBV) Shares Bought by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 18.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,123 shares of the company’s stock after acquiring an additional 3,653 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in AbbVie were worth $4,566,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC raised its holdings in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the period. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.89.

AbbVie Trading Down 2.7 %

AbbVie stock opened at $164.99 on Monday. The company has a 50 day moving average price of $192.04 and a 200 day moving average price of $181.04. 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 Inc. has a 52 week low of $137.05 and a 52 week high of $207.32. The firm has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a P/E/G ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. Research analysts forecast that AbbVie Inc. will post 10.95 EPS 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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio 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.