AbbVie Inc. (NYSE:ABBV) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,645 shares of the company’s stock after selling 4,733 shares during the quarter. D.A. Davidson & CO.’s holdings in AbbVie were worth $48,708,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the period. Swedbank AB purchased a new position in AbbVie during the first quarter worth about $367,372,000. Assenagon Asset Management S.A. lifted its position in AbbVie by 314.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock valued at $225,549,000 after purchasing an additional 997,441 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock valued at $1,516,358,000 after purchasing an additional 623,569 shares in the last quarter. Finally, Saturna Capital Corp increased its position in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ABBV. JPMorgan Chase & Co. decreased their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday. Finally, Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Stock Up 0.1 %

Shares of AbbVie stock opened at $177.06 on Tuesday. AbbVie Inc. has a twelve month low of $137.65 and a twelve month high of $207.32. The stock has a market cap of $312.89 billion, a price-to-earnings ratio of 61.48, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a fifty day moving average price of $189.09 and a 200 day moving average price of $181.44.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.70%. AbbVie’s payout ratio is currently 227.78%.

AbbVie 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.