AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 80,827 shares of the company’s stock after purchasing an additional 1,045 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in AbbVie were worth $15,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in shares of AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC raised its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter worth about $39,000. Finally, Burkett Financial Services LLC boosted its holdings in shares of 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 in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ABBV shares. Barclays increased their target price 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. UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Bank of America upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.82.

AbbVie Stock Performance

AbbVie stock traded down $1.01 during trading hours on Friday, reaching $199.50. 4,596,949 shares of the stock were exchanged, compared to its average volume of 5,356,025. The stock has a market cap of $352.54 billion, a P/E ratio of 69.27, a P/E/G ratio of 2.46 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65. The firm’s 50 day moving average is $194.58 and its 200 day moving average is $180.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal 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 given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

AbbVie Company 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.