1,557 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Encompass More Asset Management

Encompass More Asset Management acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,557 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the second quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at $28,000. Quest Partners LLC boosted its holdings in shares of AbbVie by 4,140.0% in 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. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.1 %

Shares of ABBV stock opened at $182.93 on Friday. AbbVie Inc. has a 1-year low of $138.01 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $323.26 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 2.09 and a beta of 0.63. The stock has a 50-day moving average of $188.23 and a 200-day moving average of $181.89.

AbbVie (NYSE:ABBV) last announced its 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.59%. 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 (DPR) is currently 227.78%.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. UBS Group raised their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets dropped their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $203.50.

About AbbVie

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.