XML Financial LLC Sells 165 Shares of AbbVie Inc. (NYSE:ABBV)

XML Financial LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 14,194 shares of the company’s stock after selling 165 shares during the quarter. XML Financial LLC’s holdings in AbbVie were worth $2,803,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of AbbVie in the first quarter valued at $646,000. Quent Capital LLC raised its stake in AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after acquiring an additional 283 shares during the period. NorthRock Partners LLC boosted its position in AbbVie by 7.3% during the first quarter. NorthRock Partners LLC now owns 25,292 shares of the company’s stock worth $4,606,000 after purchasing an additional 1,728 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of AbbVie by 3.5% in the first quarter. Meeder Advisory Services Inc. now owns 29,596 shares of the company’s stock worth $5,389,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Verus Capital Partners LLC raised its position in shares of AbbVie by 1.6% in the first quarter. Verus Capital Partners LLC now owns 64,640 shares of the company’s stock valued at $11,771,000 after purchasing an additional 990 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ABBV shares. BMO Capital Markets raised their price objective on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen boosted 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. Citigroup raised their target price on AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial increased their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.82.

AbbVie Price Performance

ABBV opened at $199.50 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $352.54 billion, a P/E ratio of 69.27, a PEG ratio of 2.46 and a beta of 0.63. The stock has a 50-day moving average price of $194.58 and a 200-day moving average price of $180.61. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 earnings per share. Equities analysts predict that AbbVie Inc. will post 10.96 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. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) 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.