AbbVie Inc. (NYSE:ABBV) Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc grew its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,554 shares of the company’s stock after buying an additional 706 shares during the quarter. Prospera Financial Services Inc’s holdings in AbbVie were worth $14,337,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after acquiring an additional 4,471,806 shares during the period. Capital World Investors raised its holdings in AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after purchasing an additional 3,120,310 shares during the last quarter. Capital International Investors boosted its position in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Swedbank AB acquired a new stake in AbbVie in the first quarter valued at $367,372,000. Finally, Price T Rowe Associates Inc. MD increased its position 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 in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. UBS Group upped their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Stock Performance

Shares of ABBV stock opened at $166.26 on Tuesday. AbbVie Inc. has a 12-month low of $137.14 and a 12-month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $293.80 billion, a price-to-earnings ratio of 57.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The business has a 50 day simple moving average of $191.44 and a 200 day simple moving average of $181.08.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $2.95 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.95%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

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.