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

International Private Wealth Advisors LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 40.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,193 shares of the company’s stock after buying an additional 5,814 shares during the quarter. AbbVie makes up 2.0% of International Private Wealth Advisors LLC’s portfolio, making the stock its 9th biggest position. International Private Wealth Advisors LLC’s holdings in AbbVie were worth $5,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burk Holdings LLC acquired a new position in AbbVie in the second quarter valued at approximately $30,000. Marquette Asset Management LLC grew its holdings in shares of AbbVie by 52.2% during the second quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock valued at $35,000 after purchasing an additional 48 shares during the last quarter. Principia Wealth Advisory LLC grew its holdings in shares of AbbVie by 38.9% during the second quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. IMG Wealth Management Inc. raised its position in shares of AbbVie by 3,060.0% during the 2nd quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock worth $40,000 after purchasing an additional 153 shares during the period. Finally, Tacita Capital Inc acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ABBV shares. Erste Group Bank raised AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their target price on AbbVie from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 8th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $275.00 target price on shares of AbbVie in a research note on Monday, November 2nd. Cantor Fitzgerald boosted their price target on shares of AbbVie from $290.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, HSBC boosted their price target on shares of AbbVie from $300.00 to $315.00 and gave the company a “buy” rating in a 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 given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $297.46.

AbbVie Trading Up 0.4%

Shares of NYSE:ABBV opened at $294.93 on Thursday. The firm’s 50 day moving average is $274.15 and its two-hundred day moving average is $240.18. The firm has a market capitalization of $521.33 billion, a P/E ratio of 50.76, a PEG ratio of 1.34 and a beta of 0.20. AbbVie Inc. has a 52 week low of $190.75 and a 52 week high of $302.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 450.55% and a net margin of 15.67%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. Analysts predict that AbbVie Inc. will post 13.98 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio (DPR) 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 stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

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.