CreativeOne Wealth LLC Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

CreativeOne Wealth LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 30.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,526 shares of the company’s stock after buying an additional 8,706 shares during the quarter. CreativeOne Wealth LLC’s holdings in AbbVie were worth $7,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GGM Financials LLC raised its position in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares during the period. Pine Haven Investment Counsel Inc increased its stake in AbbVie by 0.3% during the third 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 last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. lifted its stake in shares of 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 purchasing an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp grew its holdings in shares of AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABBV. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America increased their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Three equities research 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Trading Up 2.3 %

Shares of NYSE ABBV opened at $181.14 on Wednesday. AbbVie Inc. has a 12-month low of $137.65 and a 12-month high of $207.32. The company has a market cap of $320.10 billion, a price-to-earnings ratio of 62.90, a price-to-earnings-growth ratio of 2.02 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. The stock’s 50 day simple moving average is $188.85 and its 200 day simple moving average is $181.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.62%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 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.