Long Run Wealth Advisors LLC Has $252,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Long Run Wealth Advisors LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 22.8% during the third quarter, Holdings Channel reports. The firm owned 1,277 shares of the company’s stock after selling 378 shares during the period. Long Run Wealth Advisors LLC’s holdings in AbbVie were worth $252,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in AbbVie in the second quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at $39,000. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Finally, Burkett Financial Services LLC boosted its stake in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after acquiring an additional 82 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ABBV shares. Bank of America lifted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Trading Up 0.6 %

NYSE:ABBV opened at $201.69 on Wednesday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The firm has a 50-day moving average price of $194.29 and a two-hundred day moving average price of $180.10. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market cap of $356.25 billion, a price-to-earnings ratio of 70.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63.

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

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

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.