Planning Alternatives Ltd. ADV Purchases Shares of 1,425 AbbVie Inc. (NYSE:ABBV)

Planning Alternatives Ltd. ADV acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,425 shares of the company’s stock, valued at approximately $281,000.

A number of other institutional investors have also modified their holdings of the stock. CFS Investment Advisory Services LLC raised its position in shares of AbbVie by 0.3% in the third quarter. CFS Investment Advisory Services LLC now owns 24,641 shares of the company’s stock worth $4,866,000 after acquiring an additional 72 shares during the period. Darden Wealth Group Inc increased its stake in shares of AbbVie by 3.4% in the 3rd quarter. Darden Wealth Group Inc now owns 4,732 shares of the company’s stock valued at $934,000 after purchasing an additional 155 shares in the last quarter. 49 Wealth Management LLC raised its holdings in AbbVie by 224.0% in the 3rd quarter. 49 Wealth Management LLC now owns 5,002 shares of the company’s stock worth $988,000 after purchasing an additional 3,458 shares during the period. Lathrop Investment Management Corp grew its holdings in AbbVie by 13.3% in the third quarter. Lathrop Investment Management Corp now owns 4,273 shares of the company’s stock valued at $844,000 after purchasing an additional 500 shares during the period. Finally, HealthInvest Partners AB increased its position in shares of AbbVie by 24.9% in the third quarter. HealthInvest Partners AB now owns 44,486 shares of the company’s stock valued at $8,785,000 after buying an additional 8,868 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Citigroup dropped their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Morgan Stanley reduced their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Up 2.6 %

NYSE:ABBV opened at $172.18 on Friday. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The stock’s fifty day moving average is $189.81 and its two-hundred day moving average is $180.95. The stock has a market capitalization of $304.27 billion, a price-to-earnings ratio of 59.78, a price-to-earnings-growth ratio of 2.03 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping 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 firm 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 company earned $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. Research analysts anticipate 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. Shareholders 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.81%. AbbVie’s 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.