Wealth Quarterback LLC Has $324,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Wealth Quarterback LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 19.6% in the 3rd quarter, Holdings Channel reports. The fund owned 1,641 shares of the company’s stock after selling 401 shares during the period. Wealth Quarterback LLC’s holdings in AbbVie were worth $324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in AbbVie in the first quarter worth approximately $646,000. Quent Capital LLC boosted its stake in shares of AbbVie by 3.3% during the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after acquiring an additional 283 shares in the last quarter. Montag A & Associates Inc. increased its holdings in shares of AbbVie by 5.4% during the 1st quarter. Montag A & Associates Inc. now owns 71,401 shares of the company’s stock valued at $13,002,000 after acquiring an additional 3,690 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of AbbVie by 6.8% in the first quarter. Atomi Financial Group Inc. now owns 13,047 shares of the company’s stock valued at $2,376,000 after purchasing an additional 830 shares during the period. Finally, Significant Wealth Partners LLC raised its holdings in AbbVie by 26.6% in the 1st quarter. Significant Wealth Partners LLC now owns 9,495 shares of the company’s stock worth $1,729,000 after acquiring an additional 1,995 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.5 %

NYSE ABBV opened at $199.57 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The stock has a market capitalization of $352.67 billion, a price-to-earnings ratio of 69.30, a PEG ratio of 2.51 and a beta of 0.63. The stock’s 50 day moving average price is $194.58 and its two-hundred day moving average price is $180.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (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 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 business earned $2.95 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company 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 dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.29%. 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 firms have recently commented on ABBV. 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 note on Thursday, October 17th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Guggenheim upped their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $202.72.

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.