Capital Management Corp VA Takes $215,000 Position in AbbVie Inc. (NYSE:ABBV)

Capital Management Corp VA acquired a new position in AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,086 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc increased its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after acquiring an additional 52 shares during the period. Frisch Financial Group Inc. increased its position in AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the period. First Citizens Financial Corp raised its stake in AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares in the last quarter. Sunflower Bank N.A. boosted its position in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after acquiring an additional 53 shares during the period. Finally, Professional Financial Advisors LLC grew its stake in shares of AbbVie by 3.4% in the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $200.47 on Tuesday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The firm’s 50 day simple moving average is $194.18 and its 200-day simple moving average is $179.85. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market cap of $354.10 billion, a P/E ratio of 69.61, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $2.95 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.27%. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Bank of America upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

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.