Omnia Family Wealth LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Omnia Family Wealth LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,091 shares of the company’s stock after acquiring an additional 317 shares during the period. Omnia Family Wealth LLC’s holdings in AbbVie were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of ABBV. Fairway Wealth LLC acquired a new stake in AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the second quarter worth $27,000. Quest Partners LLC grew its position in 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 acquiring an additional 207 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in AbbVie during the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ABBV shares. Piper Sandler raised their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, UBS Group increased their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $203.83.

AbbVie Trading Down 0.5 %

Shares of AbbVie stock traded down $0.80 during trading hours on Thursday, reaching $169.55. The stock had a trading volume of 1,429,943 shares, compared to its average volume of 5,411,837. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1 year low of $136.30 and a 1 year high of $207.32. The firm has a 50 day simple moving average of $193.08 and a two-hundred day simple moving average of $180.84. The firm has a market capitalization of $299.62 billion, a price-to-earnings ratio of 58.87, a P/E/G ratio of 2.08 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for 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%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $2.95 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current 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 paid a $1.64 dividend. This is a boost 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 dividend yield of 3.87%. AbbVie’s payout ratio is 215.28%.

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.