Coastwise Capital Group LLC Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Coastwise Capital Group LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 19.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,769 shares of the company’s stock after buying an additional 294 shares during the quarter. Coastwise Capital Group LLC’s holdings in AbbVie were worth $349,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ABBV. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fairway Wealth LLC purchased a new position in AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter worth $27,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.1 %

ABBV opened at $182.93 on Monday. The company has a fifty day moving average of $188.23 and a two-hundred day moving average of $182.02. The stock has a market capitalization of $323.26 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $138.01 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last released 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 EPS. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.59%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analyst Ratings Changes

Several brokerages recently issued reports on ABBV. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. BMO Capital Markets decreased their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Guggenheim lifted their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

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.