Global Strategic Investment Solutions LLC Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

Global Strategic Investment Solutions LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the third quarter, HoldingsChannel reports. The fund acquired 1,299 shares of the company’s stock, valued at approximately $257,000.

Several other large investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. grew its stake in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the period. Capital World Investors grew its position in shares of AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after purchasing an additional 3,120,310 shares in the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. Finally, TD Asset Management Inc raised its position in shares of AbbVie by 156.0% in the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after buying an additional 2,116,997 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Wells Fargo & Company boosted their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. UBS Group boosted their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $202.72.

AbbVie Trading Down 0.7 %

NYSE:ABBV traded down $1.40 during mid-day trading on Thursday, hitting $199.80. 539,195 shares of the company’s stock were exchanged, compared to its average volume of 5,306,517. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $352.91 billion, a P/E ratio of 69.86, a PEG ratio of 2.54 and a beta of 0.63. The company has a 50 day simple moving average of $194.41 and a 200-day simple moving average of $180.25.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 10.97 earnings per share 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 paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, January 15th. 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.