JFG Wealth Management LLC Raises Holdings in AbbVie Inc. (NYSE:ABBV)

JFG Wealth Management LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,304 shares of the company’s stock after purchasing an additional 178 shares during the period. JFG Wealth Management LLC’s holdings in AbbVie were worth $455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Fairway Wealth LLC acquired a new position in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the second quarter worth about $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $39,000. Quest Partners LLC boosted its holdings in AbbVie by 4,140.0% in the 2nd 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 last quarter. Finally, Burkett Financial Services LLC boosted its holdings 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 purchasing an additional 82 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.6 %

NYSE:ABBV opened at $201.69 on Wednesday. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The firm has a market cap of $356.25 billion, a price-to-earnings ratio of 70.03, a P/E/G ratio of 2.54 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company’s 50 day moving average is $194.29 and its 200-day moving average is $180.10.

AbbVie (NYSE:ABBV) last released 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 company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ABBV shares. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Citigroup increased their price objective on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.