Omnia Family Wealth LLC Purchases 317 Shares of AbbVie Inc. (NYSE:ABBV)

Omnia Family Wealth LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,091 shares of the company’s stock after purchasing an additional 317 shares during the period. Omnia Family Wealth LLC’s holdings in AbbVie were worth $808,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Lifeworks Advisors LLC boosted its position in AbbVie by 3.9% in the third quarter. Lifeworks Advisors LLC now owns 33,698 shares of the company’s stock worth $6,655,000 after purchasing an additional 1,269 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in AbbVie by 7.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 50,119 shares of the company’s stock valued at $9,898,000 after buying an additional 3,304 shares during the period. Metis Global Partners LLC increased its holdings in AbbVie by 2.3% during the third quarter. Metis Global Partners LLC now owns 97,498 shares of the company’s stock valued at $19,254,000 after buying an additional 2,172 shares during the last quarter. Brooktree Capital Management bought a new position in AbbVie in the third quarter worth approximately $215,000. Finally, Curi RMB Capital LLC boosted its stake in shares of AbbVie by 0.9% during the 3rd quarter. Curi RMB Capital LLC now owns 52,162 shares of the company’s stock worth $10,301,000 after acquiring an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ABBV shares. JPMorgan Chase & Co. decreased 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. Truist Financial raised their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup reduced their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday. UBS Group raised their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.83.

AbbVie Stock Down 0.5 %

NYSE ABBV traded down $0.80 during trading on Thursday, hitting $169.55. The company’s stock had a trading volume of 1,429,943 shares, compared to its average volume of 5,411,837. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a fifty-two week low of $136.30 and a fifty-two week high of $207.32. The company has a market cap of $299.62 billion, a PE ratio of 58.87, a P/E/G ratio of 2.08 and a beta of 0.63. The business’s 50 day simple moving average is $193.08 and its 200-day simple moving average is $180.84.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.87%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. 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.