Kingfisher Capital LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Kingfisher Capital LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 3rd quarter, Holdings Channel reports. The firm owned 18,705 shares of the company’s stock after selling 342 shares during the period. Kingfisher Capital LLC’s holdings in AbbVie were worth $3,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Fairway Wealth LLC purchased a new position in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the 2nd quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter worth approximately $28,000. Quest Partners LLC raised its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter worth $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABBV shares. Truist Financial boosted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Citigroup reduced their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Stock Up 1.1 %

ABBV stock opened at $183.08 on Friday. The company has a market capitalization of $323.53 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. The firm’s fifty day simple moving average is $188.44 and its 200-day simple moving average is $181.60. AbbVie Inc. has a 12 month low of $137.65 and a 12 month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for 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% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current 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 annualized dividend and a dividend yield of 3.58%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

AbbVie Company 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.