Texas Capital Bank Wealth Management Services Inc Acquires 3,391 Shares of AbbVie Inc. (NYSE:ABBV)

Texas Capital Bank Wealth Management Services Inc raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 109.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,493 shares of the company’s stock after acquiring an additional 3,391 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in AbbVie were worth $1,282,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ABBV. GGM Financials LLC lifted its position in shares of AbbVie by 0.7% during 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 in the last quarter. Pine Haven Investment Counsel Inc grew its stake in AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. increased its position in shares of AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. Frisch Financial Group Inc. boosted its holdings 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 worth $1,187,000 after buying an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp grew its position in AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after buying an additional 53 shares during the period. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ABBV. Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group upped their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Five 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.38.

AbbVie Trading Down 0.1 %

NYSE ABBV opened at $176.22 on Friday. The stock’s fifty day moving average price is $187.14 and its 200-day moving average price is $182.17. 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 $311.41 billion, a P/E ratio of 61.19, a P/E/G ratio of 2.08 and a beta of 0.58. AbbVie Inc. has a 12 month low of $144.73 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal 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 paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.72%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 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.