AbbVie Inc. (NYSE:ABBV) Holdings Cut by Knuff & Co LLC

Knuff & Co LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,775 shares of the company’s stock after selling 100 shares during the period. Knuff & Co LLC’s holdings in AbbVie were worth $1,535,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of AbbVie during the 1st quarter worth $646,000. Quent Capital LLC boosted its holdings in AbbVie by 3.3% in the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares in the last quarter. Seven Eight Capital LP acquired a new position in AbbVie during the first quarter worth $576,000. Evermay Wealth Management LLC raised its holdings in AbbVie by 1.6% during the first quarter. Evermay Wealth Management LLC now owns 7,584 shares of the company’s stock valued at $1,381,000 after buying an additional 118 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of AbbVie in the first quarter worth about $582,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Up 0.8 %

AbbVie stock opened at $166.26 on Tuesday. The company has a 50 day moving average of $191.44 and a 200-day moving average of $181.08. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $137.14 and a twelve month high of $207.32. The stock has a market capitalization of $293.80 billion, a PE ratio of 57.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the business earned $2.95 EPS. The company’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 company 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 3.95%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Bank of America lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.89.

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.