AbbVie Inc. $ABBV Shares Bought by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 40.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 20,193 shares of the company’s stock after acquiring an additional 5,814 shares during the period. AbbVie accounts for approximately 2.0% of International Private Wealth Advisors LLC’s holdings, making the stock its 9th largest holding. International Private Wealth Advisors LLC’s holdings in AbbVie were worth $5,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Ranch Capital Advisors Inc. boosted its holdings in AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after buying an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK grew its position in AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock worth $112,516,000 after buying an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in AbbVie in the second quarter worth approximately $23,557,000. State Street Corp grew its position in AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after buying an additional 1,379,232 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of AbbVie by 7.5% in the second quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock valued at $33,865,000 after buying an additional 9,380 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on AbbVie from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 8th. Royal Bank Of Canada boosted their target price on AbbVie from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $300.00 in a research report on Thursday, August 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $275.00 target price on shares of AbbVie in a report on Monday, November 2nd. Finally, HSBC increased their price target on AbbVie from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $297.46.

AbbVie Price Performance

AbbVie stock opened at $294.93 on Thursday. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $302.93. The firm’s 50 day simple moving average is $274.15 and its 200-day simple moving average is $240.18. The company has a market cap of $521.33 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 1.34 and a beta of 0.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 30th. The company reported $3.82 EPS for the quarter, beating the consensus estimate of $3.73 by $0.09. The business had revenue of $17.40 billion during the quarter, compared to the consensus estimate of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. On average, analysts expect that AbbVie Inc. will post 13.98 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio is presently 119.10%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

About AbbVie

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas. Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.