AbbVie Inc. (NYSE:ABBV) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,509 shares of the company’s stock after selling 793 shares during the quarter. AbbVie makes up about 1.2% of Keudell Morrison Wealth Management’s holdings, making the stock its 17th largest holding. Keudell Morrison Wealth Management’s holdings in AbbVie were worth $4,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. Capital International Investors lifted its stake in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Capital Research Global Investors lifted its stake in AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after purchasing an additional 992,496 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after purchasing an additional 1,240,434 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ABBV shares. BMO Capital Markets lifted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler lifted 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. Citigroup boosted their price target on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Four 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’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Trading Down 0.4 %

ABBV traded down $0.85 during mid-day trading on Thursday, hitting $200.35. 348,089 shares of the stock were exchanged, compared to its average volume of 5,305,632. The firm’s fifty day moving average is $194.41 and its two-hundred day moving average is $180.25. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $207.32. The company has a market cap of $353.89 billion, a PE ratio of 69.86, a PEG ratio of 2.54 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the firm posted $2.95 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid 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 dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

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.