Claro Advisors LLC Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Claro Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 6.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,729 shares of the company’s stock after purchasing an additional 1,433 shares during the period. AbbVie accounts for approximately 0.6% of Claro Advisors LLC’s portfolio, making the stock its 29th biggest holding. Claro Advisors LLC’s holdings in AbbVie were worth $4,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. Capital World Investors grew its holdings in AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after buying an additional 3,120,310 shares in the last quarter. Capital International Investors increased its stake in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares during the last quarter. Swedbank AB purchased a new position in shares of AbbVie during the 1st quarter worth $367,372,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of AbbVie by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock valued at $1,956,518,000 after acquiring an additional 1,291,201 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $164.99 on Friday. The company has a market cap of $291.56 billion, a P/E ratio of 57.29, a PEG ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $137.05 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm’s 50 day moving average price is $192.04 and its 200 day moving average price is $180.91.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America raised 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. Citigroup cut their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wolfe Research started coverage on AbbVie in a research report on Friday. They issued an “outperform” rating and a $205.00 target price on the stock. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.89.

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.