Entropy Technologies LP Takes $250,000 Position in AbbVie Inc. (NYSE:ABBV)

Entropy Technologies LP acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,267 shares of the company’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its holdings in shares of AbbVie by 3.8% during the third quarter. Apollon Wealth Management LLC now owns 71,021 shares of the company’s stock worth $14,025,000 after buying an additional 2,590 shares in the last quarter. Everhart Financial Group Inc. increased its holdings in AbbVie by 11.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 12,985 shares of the company’s stock worth $2,564,000 after purchasing an additional 1,299 shares in the last quarter. Lynx Investment Advisory raised its position in AbbVie by 6.3% in the third quarter. Lynx Investment Advisory now owns 1,711 shares of the company’s stock valued at $338,000 after purchasing an additional 101 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of AbbVie by 19.5% during the third quarter. Nations Financial Group Inc. IA ADV now owns 27,958 shares of the company’s stock valued at $5,521,000 after purchasing an additional 4,566 shares in the last quarter. Finally, Laffer Tengler Investments Inc. grew its holdings in shares of AbbVie by 2.6% during the third quarter. Laffer Tengler Investments Inc. now owns 56,528 shares of the company’s stock worth $11,163,000 after purchasing an additional 1,432 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ABBV shares. Wolfe Research started coverage on shares of AbbVie in a report on Friday. They issued an “outperform” rating and a $205.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $203.89.

AbbVie Stock Performance

Shares of AbbVie stock opened at $164.99 on Friday. The business has a 50-day simple moving average of $192.04 and a 200 day simple moving average of $180.78. AbbVie Inc. has a one year low of $137.05 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 2.07 and a beta of 0.63.

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

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.