6,728 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Aljian Capital Management LLC

Aljian Capital Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 6,728 shares of the company’s stock, valued at approximately $1,329,000.

Several other large investors have also recently made changes to their positions in the business. Prudent Man Advisors LLC increased its holdings in AbbVie by 64.5% during the third quarter. Prudent Man Advisors LLC now owns 5,840 shares of the company’s stock worth $1,153,000 after buying an additional 2,289 shares during the last quarter. Gilbert & Cook Inc. increased its stake in shares of AbbVie by 14.0% during the 3rd quarter. Gilbert & Cook Inc. now owns 9,193 shares of the company’s stock worth $1,815,000 after purchasing an additional 1,132 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of AbbVie by 23.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 332,252 shares of the company’s stock worth $65,612,000 after purchasing an additional 63,474 shares during the period. Sugar Maple Asset Management LLC lifted its stake in AbbVie by 0.4% in the third quarter. Sugar Maple Asset Management LLC now owns 56,558 shares of the company’s stock valued at $11,169,000 after purchasing an additional 207 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in AbbVie by 6.2% during the third quarter. Claro Advisors LLC now owns 24,729 shares of the company’s stock valued at $4,884,000 after purchasing an additional 1,433 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 2.7 %

Shares of NYSE ABBV opened at $164.99 on Monday. The business has a 50-day moving average of $192.04 and a 200-day moving average of $181.04. The firm has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 2.01 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $137.05 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. Sell-side analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. 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 dividend on an annualized basis and a yield of 3.98%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets lowered their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $203.89.

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.