V Square Quantitative Management LLC Increases Stake in AbbVie Inc. (NYSE:ABBV)

V Square Quantitative Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 25.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,764 shares of the company’s stock after buying an additional 2,167 shares during the period. V Square Quantitative Management LLC’s holdings in AbbVie were worth $2,126,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CHB Investment Group LLC purchased a new position in AbbVie in the third quarter valued at $444,000. Sax Wealth Advisors LLC boosted its position in shares of AbbVie by 5.7% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,784 shares of the company’s stock worth $1,142,000 after acquiring an additional 314 shares in the last quarter. BCS Wealth Management increased its holdings in shares of AbbVie by 1.6% in the 3rd quarter. BCS Wealth Management now owns 5,798 shares of the company’s stock valued at $1,145,000 after acquiring an additional 92 shares during the last quarter. Kozak & Associates Inc. raised its position in shares of AbbVie by 14.3% during the 3rd quarter. Kozak & Associates Inc. now owns 1,682 shares of the company’s stock worth $320,000 after acquiring an additional 211 shares in the last quarter. Finally, Howard Capital Management Group LLC lifted its stake in AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after purchasing an additional 339 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.2 %

NYSE:ABBV opened at $188.87 on Friday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. 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 stock has a fifty day moving average price of $194.44 and a two-hundred day moving average price of $177.76. The stock has a market capitalization of $333.52 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday. They issued a “market perform” rating and a $203.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler upped their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their target price on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, UBS Group lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.47.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.