Intrepid Capital Management Inc. Grows Position in AbbVie Inc. (NYSE:ABBV)

Intrepid Capital Management Inc. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,510 shares of the company’s stock after buying an additional 138 shares during the quarter. Intrepid Capital Management Inc.’s holdings in AbbVie were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ABBV. Fairway Wealth LLC purchased a new stake in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the second quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter valued at $28,000. Quest Partners LLC raised its stake in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter valued at $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded up $1.30 during midday trading on Tuesday, hitting $183.07. The company’s stock had a trading volume of 615,807 shares, compared to its average volume of 5,515,042. The firm has a market cap of $323.51 billion, a P/E ratio of 63.11, a P/E/G ratio of 2.09 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $207.32. The firm’s 50 day moving average is $187.99 and its 200-day moving average is $182.14. 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 (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the company earned $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued 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 3.58%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets cut their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.