AbbVie Inc. (NYSE:ABBV) Shares Purchased by Claro Advisors LLC

Claro Advisors LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,729 shares of the company’s stock after buying an additional 1,433 shares during the period. AbbVie comprises about 0.6% of Claro Advisors LLC’s holdings, making the stock its 29th largest position. Claro Advisors LLC’s holdings in AbbVie were worth $4,884,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new position in shares of AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the second quarter valued at $27,000. Quest Partners LLC grew 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 acquired a new stake in shares of AbbVie during the third quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $164.99 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $137.05 and a one year high of $207.32. The firm has a market capitalization of $291.56 billion, a P/E ratio of 57.29, a PEG ratio of 2.01 and a beta of 0.63. The company’s fifty day moving average is $192.04 and its two-hundred day moving average is $180.91.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal 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 paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.