JustInvest LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 57.0% during the third quarter, Holdings Channel reports. The firm owned 16,315 shares of the company’s stock after purchasing an additional 5,924 shares during the period. JustInvest LLC’s holdings in AbbVie were worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capstone Financial Group Inc. bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $25,000. James Investment Research Inc. bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $32,000. RMR Wealth Builders bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $44,000. Weaver Consulting Group raised its holdings in shares of AbbVie by 64.3% in the 2nd quarter. Weaver Consulting Group now owns 562 shares of the company’s stock worth $55,000 after purchasing an additional 220 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds own 68.23% of the company’s stock.

ABBV traded down $1.85 on Wednesday, reaching $80.86. 478,286 shares of the company traded hands, compared to its average volume of 9,647,154. The stock’s 50 day moving average price is $87.44 and its 200-day moving average price is $91.02. AbbVie Inc. has a 52-week low of $62.55 and a 52-week high of $101.28. The company has a market cap of $145.97 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.40 and a beta of 0.74. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.86 and a quick ratio of 0.70.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 31st. The company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.14. The company had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $10.14 billion. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s dividend payout ratio is 52.80%.

A number of analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of AbbVie from a “neutral” rating to a “sell” rating in a report on Tuesday, October 20th. Citigroup boosted their price target on shares of AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Mizuho restated a “buy” rating and set a $111.00 price target on shares of AbbVie in a report on Sunday, September 27th. Truist started coverage on shares of AbbVie in a report on Friday, October 23rd. They set a “buy” rating and a $110.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $108.71.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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