AHL Investment Management Inc. Has $4.38 Million Holdings in AbbVie Inc. (NYSE:ABBV)

AHL Investment Management Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,200 shares of the company’s stock after selling 239 shares during the quarter. AbbVie accounts for approximately 3.0% of AHL Investment Management Inc.’s holdings, making the stock its 11th largest holding. AHL Investment Management Inc.’s holdings in AbbVie were worth $4,384,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABBV. Fairway Wealth LLC bought a new position in AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth about $27,000. Quest Partners LLC increased its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC bought a new position in AbbVie during the 3rd quarter worth about $39,000. Finally, Burkett Financial Services LLC increased its holdings in AbbVie by 61.2% during the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their target price on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Citigroup raised their price objective on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 31st. TD Cowen raised 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. Wells Fargo & Company raised their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Piper Sandler raised their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Price Performance

ABBV stock opened at $201.69 on Wednesday. The company’s fifty day simple moving average is $194.29 and its 200 day simple moving average is $180.10. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The firm has a market cap of $356.25 billion, a price-to-earnings ratio of 70.03, a PEG ratio of 2.54 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share 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 226.99%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 215.28%.

About AbbVie

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.