Brown Brothers Harriman & Co. Buys 2,182 Shares of AbbVie Inc. (NYSE:ABBV)

Brown Brothers Harriman & Co. boosted its position in AbbVie Inc. (NYSE:ABBV) by 2.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,786 shares of the company’s stock after buying an additional 2,182 shares during the period. Brown Brothers Harriman & Co.’s holdings in AbbVie were worth $17,533,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the 2nd quarter valued at $27,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC acquired a new position in AbbVie during the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $177.99 on Monday. 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 fifty-two week low of $137.65 and a fifty-two week high of $207.32. The stock has a market cap of $314.53 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. The stock has a fifty day moving average of $189.47 and a 200-day moving average of $181.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share 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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday. Citigroup reduced their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.50.

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.