Hollow Brook Wealth Management LLC Acquires 200 Shares of AbbVie Inc. (NYSE:ABBV)

Hollow Brook Wealth Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,325 shares of the company’s stock after purchasing an additional 200 shares during the period. Hollow Brook Wealth Management LLC’s holdings in AbbVie were worth $657,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GGM Financials LLC grew its stake in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc raised its position in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares in the last quarter. Dillon & Associates Inc. lifted its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after acquiring an additional 52 shares during the last quarter. Frisch Financial Group Inc. increased its stake in AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp raised its position in AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ABBV shares. Wells Fargo & Company boosted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Morgan Stanley cut their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Truist Financial raised their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Trading Down 0.0 %

AbbVie stock opened at $182.92 on Monday. AbbVie Inc. has a one year low of $142.66 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market cap of $323.25 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. The stock has a 50-day moving average of $188.23 and a two-hundred day moving average of $182.02.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research 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. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.59%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 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.