Baron Wealth Management LLC Has $517,000 Position in AbbVie Inc. (NYSE:ABBV)

Baron Wealth Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,619 shares of the company’s stock after purchasing an additional 331 shares during the period. Baron Wealth Management LLC’s holdings in AbbVie were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. International Assets Investment Management LLC increased its holdings in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. Capital World Investors increased its stake in shares of AbbVie by 249.1% in the first 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 during the period. Capital International Investors increased its stake in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares during the period. Swedbank AB acquired a new stake in shares of AbbVie in the first quarter valued at about $367,372,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of AbbVie by 13.7% in the first 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 buying an additional 1,291,201 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.8 %

ABBV stock opened at $166.26 on Tuesday. AbbVie Inc. has a twelve month low of $137.14 and a twelve month 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 stock’s 50 day moving average is $191.44 and its 200-day moving average is $181.08. The firm has a market capitalization of $293.80 billion, a PE ratio of 57.73, a P/E/G ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $2.95 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABBV shares. TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. BMO Capital Markets cut their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

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.