Northwest Bancshares Inc. Sells 81 Shares of AbbVie Inc. (NYSE:ABBV)

Northwest Bancshares Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,076 shares of the company’s stock after selling 81 shares during the quarter. Northwest Bancshares Inc.’s holdings in AbbVie were worth $1,200,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new position in AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the second quarter valued at approximately $27,000. Quest Partners LLC lifted its holdings in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.2 %

ABBV stock opened at $166.58 on Wednesday. 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 $294.37 billion, a price-to-earnings ratio of 57.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The firm’s fifty day simple moving average is $190.79 and its two-hundred day simple moving average is $181.10.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.94%. AbbVie’s dividend payout ratio is presently 215.28%.

Analyst Ratings Changes

Several equities analysts have weighed in on ABBV shares. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. UBS Group lifted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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 report on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Finally, Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.37.

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.