Hodges Capital Management Inc. Has $6.99 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hodges Capital Management Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 35,402 shares of the company’s stock after selling 200 shares during the period. Hodges Capital Management Inc.’s holdings in AbbVie were worth $6,991,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares in the last quarter. State Street Corp increased its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. raised its stake in AbbVie by 314.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock worth $225,549,000 after purchasing an additional 997,441 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock valued at $1,516,358,000 after purchasing an additional 623,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABBV. TD Cowen lifted their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Citigroup decreased their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Guggenheim upped their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $202.38.

AbbVie Price Performance

AbbVie stock opened at $176.19 on Friday. The stock has a 50-day moving average price of $186.76 and a two-hundred day moving average price of $182.38. AbbVie Inc. has a 12 month low of $145.20 and a 12 month high of $207.32. The company has a market capitalization of $311.35 billion, a PE ratio of 61.18, a P/E/G ratio of 2.02 and a beta of 0.58. 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 (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business earned $2.95 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.72%. AbbVie’s payout ratio is currently 227.78%.

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.