Capital Performance Advisors LLP Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Capital Performance Advisors LLP raised its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,303 shares of the company’s stock after acquiring an additional 73 shares during the period. Capital Performance Advisors LLP’s holdings in AbbVie were worth $257,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new position in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter valued at about $27,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter worth about $39,000. Finally, Burkett Financial Services LLC boosted its stake in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.45 during mid-day trading on Friday, hitting $200.96. 421,153 shares of the stock were exchanged, compared to its average volume of 5,302,349. The stock has a market capitalization of $354.96 billion, a price-to-earnings ratio of 69.60, a P/E/G ratio of 2.51 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The stock’s fifty day simple moving average is $194.41 and its two-hundred day simple moving average is $180.25. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm 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 226.99%. During the same quarter in the prior year, the firm earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared 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 represents a $6.56 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Citigroup upped their target price on shares of AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Guggenheim boosted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.72.

Check Out Our Latest Stock Analysis on ABBV

AbbVie Company Profile

(Free Report)

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.

Further Reading

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