Mizuho Securities Co. Ltd. Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Mizuho Securities Co. Ltd. lifted its position in AbbVie Inc. (NYSE:ABBV) by 100.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200 shares of the company’s stock after buying an additional 100 shares during the period. Mizuho Securities Co. Ltd.’s holdings in AbbVie were worth $39,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABBV. Fairway Wealth LLC purchased a new stake in shares of AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the 3rd quarter worth approximately $39,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during 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 in the last quarter. Finally, Burkett Financial Services LLC raised its holdings in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.6 %

NYSE ABBV traded up $0.97 during trading on Wednesday, reaching $172.06. 2,663,353 shares of the company’s stock were exchanged, compared to its average volume of 5,402,497. AbbVie Inc. has a 1 year low of $136.30 and a 1 year high of $207.32. The stock has a market cap of $304.05 billion, a P/E ratio of 59.45, a price-to-earnings-growth ratio of 2.12 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a 50 day moving average price of $193.61 and a two-hundred day moving average price of $180.91.

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 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 firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS 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 given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.81%. AbbVie’s dividend payout ratio is 215.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Bank of America increased their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Citigroup dropped their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price 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 investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.83.

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.