Cheviot Value Management LLC Has $5.94 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Cheviot Value Management LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 3.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,094 shares of the company’s stock after selling 1,173 shares during the quarter. AbbVie accounts for about 1.1% of Cheviot Value Management LLC’s investment portfolio, making the stock its 24th largest holding. Cheviot Value Management LLC’s holdings in AbbVie were worth $5,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Coastwise Capital Group LLC boosted its stake in AbbVie by 19.9% in the 3rd quarter. Coastwise Capital Group LLC now owns 1,769 shares of the company’s stock worth $349,000 after purchasing an additional 294 shares during the period. Concentric Capital Strategies LP lifted its holdings in shares of AbbVie by 48.8% in the third quarter. Concentric Capital Strategies LP now owns 8,392 shares of the company’s stock valued at $1,657,000 after purchasing an additional 2,753 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its position in shares of AbbVie by 2.1% in the third quarter. Beacon Investment Advisory Services Inc. now owns 74,334 shares of the company’s stock worth $14,680,000 after buying an additional 1,500 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of AbbVie by 792.5% during the third quarter. Benjamin Edwards Inc. now owns 335,966 shares of the company’s stock valued at $66,381,000 after buying an additional 298,322 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in AbbVie in the 3rd quarter worth about $1,092,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Morgan Stanley decreased their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Trading Down 0.1 %

NYSE:ABBV opened at $182.93 on Monday. The company’s 50 day moving average is $188.23 and its 200-day moving average is $182.02. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $138.01 and a 12 month high of $207.32. The firm has a market cap of $323.26 billion, a price-to-earnings ratio of 63.52, a P/E/G ratio of 2.09 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS 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 firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm posted $2.95 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is an increase 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 annualized dividend and a yield of 3.59%. AbbVie’s dividend payout ratio is presently 215.28%.

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.