Schrum Private Wealth Management LLC Purchases 6,065 Shares of AbbVie Inc. (NYSE:ABBV)

Schrum Private Wealth Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 57.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,620 shares of the company’s stock after acquiring an additional 6,065 shares during the period. AbbVie makes up about 1.7% of Schrum Private Wealth Management LLC’s holdings, making the stock its 11th biggest position. Schrum Private Wealth Management LLC’s holdings in AbbVie were worth $3,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. First Hawaiian Bank increased its position in shares of AbbVie by 9.0% in the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after purchasing an additional 2,657 shares during the last quarter. PGGM Investments increased its holdings in shares of AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after buying an additional 24,756 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of AbbVie by 8.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock valued at $15,377,000 after buying an additional 5,993 shares in the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of AbbVie by 131.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 4,469 shares of the company’s stock worth $883,000 after acquiring an additional 2,542 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. bought a new stake in shares of AbbVie during the 2nd quarter worth $1,349,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.3 %

NYSE:ABBV traded up $0.50 during mid-day trading on Wednesday, hitting $171.59. 2,247,619 shares of the company’s stock were exchanged, compared to its average volume of 5,400,665. The company has a market cap of $303.22 billion, a PE ratio of 59.45, a P/E/G ratio of 2.12 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $136.30 and a one year high of $207.32. The business has a fifty day moving average price of $193.61 and a 200 day moving average price of $180.91.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued 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 yield of 3.82%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. UBS Group boosted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Cantor Fitzgerald reaffirmed 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. Finally, Citigroup cut their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.83.

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.