Fifth Third Wealth Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,132 shares of the company's stock after acquiring an additional 5,640 shares during the period. AbbVie accounts for approximately 0.5% of Fifth Third Wealth Advisors LLC's portfolio, making the stock its 27th biggest position. Fifth Third Wealth Advisors LLC's holdings in AbbVie were worth $8,715,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the third quarter worth $999,000. Saturna Capital Corp raised 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 buying an additional 560,808 shares during the period. First Hawaiian Bank boosted its stake in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company's stock worth $5,506,000 after buying an additional 2,657 shares during the period. PGGM Investments increased its position in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company's stock valued at $5,624,000 after acquiring an additional 24,756 shares during the last quarter. Finally, Schrum Private Wealth Management LLC raised its stake 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 acquiring an additional 6,065 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.
Several research analysts have recently commented on ABBV shares. Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. BMO Capital Markets cut their target price on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. UBS Group increased their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Argus raised AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $203.89.
Check Out Our Latest Report on AbbVie
NYSE ABBV opened at $166.26 on Tuesday. The stock has a market capitalization of $293.80 billion, a price-to-earnings ratio of 57.73, a PEG ratio of 2.01 and a beta of 0.63. The business's 50 day moving average is $191.44 and its two-hundred day moving average is $181.08. AbbVie Inc. has a 12-month low of $137.14 and a 12-month high of $207.32. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during 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%. AbbVie's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.95 earnings per share. Research analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.
The company 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 dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.95%. AbbVie's payout ratio is currently 215.28%.
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.
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