Counterweight Ventures LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Counterweight Ventures LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 19.1% in the third quarter, Holdings Channel.com reports. The fund owned 19,596 shares of the company’s stock after buying an additional 3,148 shares during the quarter. AbbVie makes up 2.7% of Counterweight Ventures LLC’s investment portfolio, making the stock its 11th largest position. Counterweight Ventures LLC’s holdings in AbbVie were worth $3,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. West Family Investments Inc. lifted its stake in shares of AbbVie by 10.8% in the third quarter. West Family Investments Inc. now owns 7,225 shares of the company’s stock valued at $1,427,000 after purchasing an additional 706 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in AbbVie in the third quarter valued at about $89,420,000. Banque Cantonale Vaudoise increased its holdings in AbbVie by 10.6% in the third quarter. Banque Cantonale Vaudoise now owns 48,408 shares of the company’s stock valued at $9,560,000 after buying an additional 4,650 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of AbbVie by 14.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 44,132 shares of the company’s stock worth $8,715,000 after acquiring an additional 5,640 shares in the last quarter. Finally, Wrapmanager Inc. boosted its stake in shares of AbbVie by 0.8% during the 3rd quarter. Wrapmanager Inc. now owns 12,120 shares of the company’s stock worth $2,393,000 after acquiring an additional 96 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of several research reports. Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Citigroup lowered their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.37.

AbbVie Stock Performance

AbbVie stock opened at $165.54 on Tuesday. The stock has a fifty day moving average price of $191.44 and a 200 day moving average price of $181.08. 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 Inc. has a 52 week low of $137.14 and a 52 week high of $207.32. The firm has a market capitalization of $292.53 billion, a P/E ratio of 57.48, a PEG ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.96%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) 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.