Barnett & Company Inc. Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Barnett & Company Inc. lessened its position in AbbVie Inc. (NYSE:ABBV) by 0.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,468 shares of the company’s stock after selling 200 shares during the period. AbbVie comprises about 4.4% of Barnett & Company Inc.’s holdings, making the stock its 3rd biggest position. Barnett & Company Inc.’s holdings in AbbVie were worth $6,609,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of AbbVie during the first quarter valued at about $646,000. Quent Capital LLC boosted its position in AbbVie by 3.3% during the 1st 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in AbbVie by 65.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,041,447 shares of the company’s stock valued at $189,647,000 after purchasing an additional 412,920 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in AbbVie by 14.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 33,720 shares of the company’s stock worth $6,140,000 after acquiring an additional 4,235 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of AbbVie by 156.0% in the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after acquiring an additional 2,116,997 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.4 %

Shares of NYSE:ABBV traded up $0.77 during midday trading on Tuesday, hitting $175.20. The stock had a trading volume of 3,130,345 shares, compared to its average volume of 5,380,714. The company has a market cap of $309.60 billion, a P/E ratio of 60.84, a PEG ratio of 2.44 and a beta of 0.63. The business’s 50-day simple moving average is $194.14 and its 200-day simple moving average is $180.83. AbbVie Inc. has a 12 month low of $136.30 and a 12 month high of $207.32. The company has a quick ratio of 0.71, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.95 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.74%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is 227.78%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday. Bank of America upped their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets raised their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.41.

About AbbVie

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.