AbbVie Inc. (NYSE:ABBV) Shares Purchased by Tyler Stone Wealth Management

Tyler Stone Wealth Management boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 131.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,469 shares of the company’s stock after acquiring an additional 2,542 shares during the quarter. Tyler Stone Wealth Management’s holdings in AbbVie were worth $883,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC purchased a new position in shares of AbbVie during the 3rd quarter valued at approximately $39,000. Quest Partners LLC lifted its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Finally, Burkett Financial Services LLC boosted its holdings in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.5 %

AbbVie stock traded down $1.01 during trading on Friday, reaching $199.50. The stock had a trading volume of 4,596,949 shares, compared to its average volume of 5,356,025. The company has a quick ratio of 0.71, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32. The stock has a market cap of $352.54 billion, a PE ratio of 69.27, a P/E/G ratio of 2.46 and a beta of 0.63. The business has a 50 day moving average price of $194.58 and a 200 day moving average price of $180.61.

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. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.95 EPS. On average, analysts predict that AbbVie Inc. will post 10.96 EPS for the current 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. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.29%. AbbVie’s payout ratio is 215.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Morgan Stanley raised their target price on AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup increased their price objective on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.82.

About AbbVie

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.