AbbVie Inc. (NYSE:ABBV) Stock Position Lifted by TCW Group Inc.

TCW Group Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 403,638 shares of the company’s stock after buying an additional 2,199 shares during the quarter. TCW Group Inc.’s holdings in AbbVie were worth $79,710,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth about $27,000. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $28,000. Finally, Quest Partners LLC increased its holdings in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. TD Cowen increased their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Morgan Stanley cut their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.19.

AbbVie Price Performance

Shares of ABBV stock opened at $175.76 on Wednesday. AbbVie Inc. has a 12 month low of $150.16 and a 12 month high of $207.32. The company has a market capitalization of $310.59 billion, a P/E ratio of 61.03, a P/E/G ratio of 2.01 and a beta of 0.58. The stock has a 50 day moving average of $186.35 and a two-hundred day moving average of $182.67. 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 (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $2.95 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.73%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 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.