CFS Investment Advisory Services LLC Buys 72 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

CFS Investment Advisory Services LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,641 shares of the company’s stock after acquiring an additional 72 shares during the period. CFS Investment Advisory Services LLC’s holdings in AbbVie were worth $4,866,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ABBV. Darden Wealth Group Inc lifted its holdings in shares of AbbVie by 3.4% during the third quarter. Darden Wealth Group Inc now owns 4,732 shares of the company’s stock valued at $934,000 after acquiring an additional 155 shares during the period. 49 Wealth Management LLC increased its holdings in shares of AbbVie by 224.0% during the third quarter. 49 Wealth Management LLC now owns 5,002 shares of the company’s stock worth $988,000 after buying an additional 3,458 shares in the last quarter. Lathrop Investment Management Corp boosted its holdings in shares of AbbVie by 13.3% in the 3rd quarter. Lathrop Investment Management Corp now owns 4,273 shares of the company’s stock worth $844,000 after acquiring an additional 500 shares in the last quarter. HealthInvest Partners AB raised its position in AbbVie by 24.9% in the 3rd quarter. HealthInvest Partners AB now owns 44,486 shares of the company’s stock valued at $8,785,000 after purchasing an additional 8,868 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in AbbVie by 5.1% during the 3rd quarter. Pacer Advisors Inc. now owns 391,915 shares of the company’s stock worth $77,395,000 after buying an additional 19,025 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $172.18 on Friday. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. The stock has a market capitalization of $304.27 billion, a price-to-earnings ratio of 59.78, a PEG ratio of 2.03 and a beta of 0.63. 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 has a 50-day moving average of $189.81 and a 200-day moving average of $180.95.

AbbVie (NYSE:ABBV – Get Free Report) last announced 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 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. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

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.

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