Cubic Asset Management LLC Has $4.34 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Cubic Asset Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,506 shares of the company’s stock after purchasing an additional 1,939 shares during the period. AbbVie accounts for approximately 1.6% of Cubic Asset Management LLC’s portfolio, making the stock its 19th biggest position. Cubic Asset Management LLC’s holdings in AbbVie were worth $4,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Integrated Investment Consultants LLC increased its position in shares of AbbVie by 1.1% during the second quarter. Integrated Investment Consultants LLC now owns 9,834 shares of the company’s stock worth $966,000 after acquiring an additional 109 shares in the last quarter. Old North State Trust LLC increased its position in shares of AbbVie by 1.6% during the second quarter. Old North State Trust LLC now owns 7,033 shares of the company’s stock worth $690,000 after acquiring an additional 110 shares in the last quarter. Quad Cities Investment Group LLC increased its position in shares of AbbVie by 2.9% during the second quarter. Quad Cities Investment Group LLC now owns 4,181 shares of the company’s stock worth $411,000 after acquiring an additional 117 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its position in shares of AbbVie by 1.0% during the second quarter. Raab & Moskowitz Asset Management LLC now owns 11,889 shares of the company’s stock worth $1,167,000 after acquiring an additional 117 shares in the last quarter. Finally, Inlet Private Wealth LLC boosted its holdings in AbbVie by 0.5% during the second quarter. Inlet Private Wealth LLC now owns 24,876 shares of the company’s stock worth $2,442,000 after purchasing an additional 121 shares during the last quarter. 68.23% of the stock is owned by hedge funds and other institutional investors.

NYSE ABBV opened at $80.49 on Thursday. The company’s 50 day moving average is $87.26 and its 200-day moving average is $91.04. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $101.28. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. The firm has a market cap of $142.05 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.40 and a beta of 0.74.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.14. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The company had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 10.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

Several research analysts recently weighed in on ABBV shares. Citigroup boosted their price target on shares of AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Berenberg Bank started coverage on shares of AbbVie in a report on Tuesday, September 29th. They set a “hold” rating and a $98.00 price target on the stock. Truist started coverage on shares of AbbVie in a report on Friday, October 23rd. They set a “buy” rating and a $110.00 price target on the stock. Morgan Stanley boosted their price target on shares of AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Royal Bank of Canada boosted their price target on shares of AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and a consensus price target of $108.71.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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