Jaffetilchin Investment Partners LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Jaffetilchin Investment Partners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,938 shares of the company’s stock after buying an additional 775 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in AbbVie were worth $1,765,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at about $27,000. Quest Partners LLC increased its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Finally, Burkett Financial Services LLC increased its position in shares of AbbVie by 61.2% during the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 11.2 %

Shares of ABBV opened at $177.11 on Monday. The stock has a market capitalization of $312.98 billion, a price-to-earnings ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. AbbVie Inc. has a 1 year low of $136.30 and a 1 year high of $207.32. The business’s 50 day simple moving average is $194.58 and its 200-day simple moving average is $180.78. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The business 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%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. As a group, equities analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal 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 issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.70%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley boosted their price objective on AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given 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 $205.82.

Read Our Latest Stock Analysis on ABBV

AbbVie Company Profile

(Free Report)

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.

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