FSM Wealth Advisors LLC Acquires 151 Shares of AbbVie Inc. (NYSE:ABBV)

FSM Wealth Advisors LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 3.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,232 shares of the company’s stock after buying an additional 151 shares during the period. FSM Wealth Advisors LLC’s holdings in AbbVie were worth $1,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alterna Wealth Management Inc. acquired a new position in AbbVie during the third quarter worth $209,000. Moloney Securities Asset Management LLC lifted its holdings in shares of AbbVie by 2.5% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,345 shares of the company’s stock worth $4,413,000 after acquiring an additional 554 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of AbbVie by 0.7% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 9,416 shares of the company’s stock valued at $1,858,000 after purchasing an additional 62 shares in the last quarter. Arlington Capital Management Inc. increased its stake in shares of AbbVie by 15.5% in the third quarter. Arlington Capital Management Inc. now owns 1,506 shares of the company’s stock valued at $297,000 after buying an additional 202 shares during the period. Finally, Quintet Private Bank Europe S.A. lifted its stake in shares of AbbVie by 28.1% in the third quarter. Quintet Private Bank Europe S.A. now owns 52,646 shares of the company’s stock worth $10,397,000 after acquiring an additional 11,538 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.5 %

ABBV opened at $200.47 on Tuesday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The company has a market capitalization of $354.10 billion, a P/E ratio of 69.61, a PEG ratio of 2.78 and a beta of 0.63. The stock’s fifty day moving average is $194.18 and its two-hundred day moving average is $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 (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company 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%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 227.78%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Barclays boosted 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. Morgan Stanley upped their price objective on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, BMO Capital Markets raised their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

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.