Integrated Investment Consultants LLC Purchases 162,251 Shares of AbbVie Inc. (NYSE:ABBV)

Integrated Investment Consultants LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 2,338.6% in the third quarter, HoldingsChannel reports. The firm owned 169,189 shares of the company’s stock after acquiring an additional 162,251 shares during the period. AbbVie makes up 0.8% of Integrated Investment Consultants LLC’s investment portfolio, making the stock its 10th largest position. Integrated Investment Consultants LLC’s holdings in AbbVie were worth $33,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after acquiring an additional 4,471,806 shares in the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares during the period. Swedbank AB bought a new stake in shares of AbbVie during the first quarter valued at about $367,372,000. Price T Rowe Associates Inc. MD grew its position in AbbVie by 13.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock valued at $1,956,518,000 after buying an additional 1,291,201 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after buying an additional 1,240,434 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.7 %

ABBV stock opened at $167.74 on Thursday. The firm has a market cap of $296.42 billion, a PE ratio of 58.24, a PEG ratio of 2.03 and a beta of 0.63. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The company has a fifty day simple moving average of $190.25 and a 200 day simple moving average of $181.01. 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 (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.91%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABBV shares. Wells Fargo & Company raised their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley decreased their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.37.

AbbVie Company 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.