Coldstream Capital Management Inc. Increases Stake in AbbVie Inc. (NYSE:ABBV)

Coldstream Capital Management Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,071 shares of the company’s stock after purchasing an additional 3,405 shares during the quarter. Coldstream Capital Management Inc.’s holdings in AbbVie were worth $12,194,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. GGM Financials LLC increased its holdings in shares of AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc increased its stake in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. lifted its stake in shares of AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after purchasing an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp grew its holdings in shares of AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABBV. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Piper Sandler increased their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $202.19.

AbbVie Stock Up 0.2 %

ABBV stock opened at $176.63 on Tuesday. The stock has a market cap of $312.12 billion, a PE ratio of 61.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58. The firm’s 50-day simple moving average is $186.35 and its 200 day simple moving average is $182.67. AbbVie Inc. has a fifty-two week low of $150.16 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.

AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business earned $2.95 earnings per share. AbbVie’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s dividend payout ratio (DPR) 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.