7,271 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Algert Global LLC

Algert Global LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,271 shares of the company’s stock, valued at approximately $1,436,000.

Other hedge funds have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new position in AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. First Hawaiian Bank lifted its holdings in 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 purchasing an additional 2,657 shares in the last quarter. PGGM Investments lifted its holdings in AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $183.08 on Friday. The firm has a market capitalization of $323.53 billion, a PE ratio of 63.57, a P/E/G ratio of 2.02 and a beta of 0.63. 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 business has a 50-day moving average of $188.44 and a two-hundred day moving average of $181.60. AbbVie Inc. has a 12 month low of $137.65 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 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

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.