Capital Management Corp VA Invests $215,000 in AbbVie Inc. (NYSE:ABBV)

Capital Management Corp VA purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,086 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also made changes to their positions in the company. Amalgamated Bank lifted its stake in AbbVie by 3.8% in the third quarter. Amalgamated Bank now owns 381,018 shares of the company’s stock valued at $75,243,000 after acquiring an additional 14,111 shares during the last quarter. Clarity Financial LLC lifted its stake in shares of AbbVie by 7.8% in the 3rd quarter. Clarity Financial LLC now owns 166,746 shares of the company’s stock valued at $32,929,000 after purchasing an additional 12,121 shares during the last quarter. United Advisor Group LLC lifted its stake in shares of AbbVie by 89.9% in the 3rd quarter. United Advisor Group LLC now owns 4,382 shares of the company’s stock valued at $865,000 after purchasing an additional 2,075 shares during the last quarter. Cary Street Partners Asset Management LLC boosted its holdings in AbbVie by 0.3% in the third quarter. Cary Street Partners Asset Management LLC now owns 24,742 shares of the company’s stock worth $4,886,000 after purchasing an additional 71 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its position in AbbVie by 3.0% during the third quarter. FSM Wealth Advisors LLC now owns 5,232 shares of the company’s stock worth $1,033,000 after buying an additional 151 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.5 %

AbbVie stock opened at $200.47 on Tuesday. The business has a 50 day moving average price of $194.18 and a two-hundred day moving average price of $179.85. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The stock has a market cap of $354.10 billion, a price-to-earnings ratio of 69.61, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the company posted $2.95 earnings per share. AbbVie’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is 215.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. UBS Group upped their price objective 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, Bank of America lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

About AbbVie

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.