GenTrust LLC Purchases New Holdings in AbbVie Inc. (NYSE:ABBV)

GenTrust LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,276 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the third quarter valued at about $999,000. Saturna Capital Corp raised its stake in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares during the period. Schrum Private Wealth Management LLC lifted its holdings in shares of AbbVie by 57.5% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America raised their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group boosted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Performance

AbbVie stock opened at $176.95 on Friday. The stock has a fifty day moving average price of $189.47 and a 200 day moving average price of $181.17. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The firm has a market capitalization of $312.70 billion, a P/E ratio of 61.44, a PEG ratio of 2.09 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

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.