AbbVie Inc. (NYSE:ABBV) Holdings Lifted by PDS Planning Inc

PDS Planning Inc boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 108,502 shares of the company’s stock after purchasing an additional 4,623 shares during the quarter. AbbVie accounts for about 1.9% of PDS Planning Inc’s portfolio, making the stock its 13th biggest position. PDS Planning Inc’s holdings in AbbVie were worth $21,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in shares of AbbVie by 4.8% during the 3rd quarter. QRG Capital Management Inc. now owns 290,695 shares of the company’s stock worth $57,407,000 after purchasing an additional 13,319 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of AbbVie by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 806,189 shares of the company’s stock worth $159,206,000 after acquiring an additional 4,897 shares in the last quarter. National Pension Service raised its stake in shares of AbbVie by 15.1% in the 3rd quarter. National Pension Service now owns 3,351,522 shares of the company’s stock valued at $661,859,000 after acquiring an additional 440,777 shares in the last quarter. WFA Asset Management Corp raised its position in shares of AbbVie by 0.8% in the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock valued at $1,383,000 after purchasing an additional 55 shares during the period. Finally, Wetzel Investment Advisors Inc. grew its position in shares of AbbVie by 17.1% in the third quarter. Wetzel Investment Advisors Inc. now owns 1,132 shares of the company’s stock valued at $224,000 after purchasing an additional 165 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. BMO Capital Markets raised their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Barclays raised their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Bank of America raised their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research 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 assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $201.00.

AbbVie Stock Performance

Shares of ABBV stock traded down $1.30 during midday trading on Monday, hitting $202.25. 494,476 shares of the company were exchanged, compared to its average volume of 5,306,700. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The firm has a market capitalization of $357.24 billion, a P/E ratio of 70.68, a PEG ratio of 2.78 and a beta of 0.63. The firm’s 50 day moving average price is $194.12 and its two-hundred day moving average price is $179.60. 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) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (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 analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.24%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

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.