Patton Albertson Miller Group LLC Has $4.21 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Patton Albertson Miller Group LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,338 shares of the company’s stock after selling 117 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in AbbVie were worth $4,214,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Square LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $235,000. Associated Banc Corp increased its holdings in shares of AbbVie by 8.9% during the third quarter. Associated Banc Corp now owns 39,423 shares of the company’s stock valued at $7,785,000 after acquiring an additional 3,228 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of AbbVie by 1.6% during the third quarter. Private Trust Co. NA now owns 35,722 shares of the company’s stock valued at $7,054,000 after acquiring an additional 559 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of AbbVie by 7.1% during the third quarter. Horizon Kinetics Asset Management LLC now owns 25,845 shares of the company’s stock valued at $5,104,000 after acquiring an additional 1,722 shares in the last quarter. Finally, Truvestments Capital LLC increased its holdings in shares of AbbVie by 10.5% during the third quarter. Truvestments Capital LLC now owns 21,821 shares of the company’s stock valued at $4,309,000 after acquiring an additional 2,082 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Finally, Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Up 0.1 %

Shares of NYSE ABBV opened at $177.06 on Tuesday. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business’s fifty day moving average price is $189.09 and its 200-day moving average price is $181.44. The stock has a market capitalization of $312.89 billion, a PE ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.70%. AbbVie’s dividend payout ratio is 227.78%.

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.