AbbVie Inc. (NYSE:ABBV) Shares Bought by Anchor Investment Management LLC

Anchor Investment Management LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,716 shares of the company’s stock after acquiring an additional 2,527 shares during the quarter. AbbVie comprises about 1.7% of Anchor Investment Management LLC’s holdings, making the stock its 9th largest position. Anchor Investment Management LLC’s holdings in AbbVie were worth $17,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tudor Financial Inc. acquired a new stake in AbbVie during the 3rd quarter worth approximately $445,000. Aldebaran Financial Inc. acquired a new stake in AbbVie in the third quarter valued at approximately $466,000. Morse Asset Management Inc grew its position in AbbVie by 2.4% in the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock valued at $1,494,000 after acquiring an additional 175 shares in the last quarter. Westside Investment Management Inc. grew its position in AbbVie by 1.0% in the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock valued at $3,403,000 after acquiring an additional 171 shares in the last quarter. Finally, Second Line Capital LLC acquired a new stake in AbbVie in the third quarter valued at approximately $379,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Guggenheim increased their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citigroup reduced their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company increased their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.65.

AbbVie Price Performance

Shares of NYSE ABBV opened at $174.40 on Thursday. AbbVie Inc. has a 1-year low of $150.16 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business’s fifty day moving average price is $185.92 and its two-hundred day moving average price is $182.80. The firm has a market capitalization of $308.19 billion, a PE ratio of 60.56, a P/E/G ratio of 2.01 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results 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 return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company earned $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.