Klingenstein Fields & Co. LP Sells 164 Shares of AbbVie Inc. (NYSE:ABBV)

Klingenstein Fields & Co. LP cut its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 1.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 11,850 shares of the company’s stock after selling 164 shares during the period. Klingenstein Fields & Co. LP’s holdings in AbbVie were worth $2,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. China Universal Asset Management Co. Ltd. purchased a new stake in AbbVie during the first quarter valued at approximately $646,000. Quent Capital LLC raised its position in AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after purchasing an additional 283 shares during the period. FinTrust Capital Advisors LLC raised its position in AbbVie by 1.9% during the first quarter. FinTrust Capital Advisors LLC now owns 11,764 shares of the company’s stock valued at $2,142,000 after purchasing an additional 225 shares during the period. Baron Silver Stevens Financial Advisors LLC raised its position in AbbVie by 33.1% during the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,535 shares of the company’s stock valued at $462,000 after purchasing an additional 631 shares during the period. Finally, Magnolia Capital Advisors LLC raised its position in AbbVie by 41.8% during the first quarter. Magnolia Capital Advisors LLC now owns 4,885 shares of the company’s stock valued at $813,000 after purchasing an additional 1,441 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.6 %

ABBV opened at $204.73 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market capitalization of $361.62 billion, a P/E ratio of 70.68, a PEG ratio of 2.78 and a beta of 0.63. The stock’s fifty day moving average is $194.12 and its two-hundred day moving average is $179.60. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 226.99% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.95 EPS. Analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.20%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Truist Financial upped their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.00.

Get Our Latest Stock Report on AbbVie

About AbbVie

(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.

Featured Articles

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.