Invst LLC Sells 233 Shares of AbbVie Inc. (NYSE:ABBV)

Invst LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,900 shares of the company’s stock after selling 233 shares during the quarter. Invst LLC’s holdings in AbbVie were worth $770,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ABBV. PGGM Investments raised its stake in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after buying an additional 24,756 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of AbbVie during the second quarter worth $213,000. AdvisorNet Financial Inc increased its stake in shares of AbbVie by 5.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,766 shares of the company’s stock valued at $818,000 after acquiring an additional 242 shares during the last quarter. Country Club Bank grew its holdings in AbbVie by 5.6% during the second quarter. Country Club Bank now owns 10,070 shares of the company’s stock valued at $1,702,000 after purchasing an additional 532 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in AbbVie in the second quarter worth $224,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Citigroup dropped their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Five equities research 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. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $202.19.

AbbVie Trading Down 0.5 %

NYSE ABBV opened at $175.76 on Wednesday. The stock has a 50 day moving average of $186.35 and a 200-day moving average of $182.67. AbbVie Inc. has a 12 month low of $150.16 and a 12 month high of $207.32. The company has a market cap of $310.59 billion, a PE ratio of 61.03, a PEG ratio of 2.01 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the company posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.73%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.

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.