Cozad Asset Management Inc. Has $3.68 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Cozad Asset Management Inc. trimmed its position in AbbVie Inc. (NYSE:ABBVFree Report) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,656 shares of the company’s stock after selling 350 shares during the quarter. Cozad Asset Management Inc.’s holdings in AbbVie were worth $3,684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the second quarter worth about $27,000. Quest Partners LLC boosted its holdings in shares of 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 approximately $39,000. Finally, Burkett Financial Services LLC boosted its holdings in shares of AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $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 Trading Down 0.2 %

Shares of ABBV stock opened at $201.20 on Thursday. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32. The stock has a market cap of $355.39 billion, a price-to-earnings ratio of 69.86, a P/E/G ratio of 2.54 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a fifty day moving average of $194.41 and a 200-day moving average of $180.25.

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

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

Several analysts recently commented on ABBV shares. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Truist Financial raised their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Finally, Piper Sandler lifted their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.72.

Check Out Our Latest Stock Analysis on ABBV

AbbVie 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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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