AbbVie Inc. (NYSE:ABBV) Shares Bought by Donaldson Capital Management LLC

Donaldson Capital Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 468,612 shares of the company’s stock after buying an additional 3,643 shares during the quarter. AbbVie accounts for 3.6% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Donaldson Capital Management LLC’s holdings in AbbVie were worth $92,541,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the second quarter valued at $27,000. Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $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 3rd quarter worth about $39,000. Finally, Burkett Financial Services LLC grew its stake in AbbVie by 61.2% in the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $203.55 on Monday. The business has a 50 day moving average of $194.12 and a 200-day moving average of $179.60. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The company has a market capitalization of $359.54 billion, a P/E ratio of 70.68, a P/E/G ratio of 2.78 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.22%. AbbVie’s dividend payout ratio is presently 215.28%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ABBV shares. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Citigroup upped their price objective on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley lifted their target price on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Bank of America boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.