Capasso Planning Partners LLC Has $2.22 Million Position in AbbVie Inc. (NYSE:ABBV)

Capasso Planning Partners LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 15.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,242 shares of the company’s stock after selling 2,030 shares during the period. AbbVie makes up 0.7% of Capasso Planning Partners LLC’s portfolio, making the stock its 29th biggest holding. Capasso Planning Partners LLC’s holdings in AbbVie were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its holdings in AbbVie by 6.2% in the 2nd quarter. Brookstone Capital Management now owns 88,188 shares of the company’s stock valued at $15,457,000 after acquiring an additional 5,175 shares in the last quarter. Gradient Investments LLC raised its stake in AbbVie by 1.4% in the second quarter. Gradient Investments LLC now owns 95,207 shares of the company’s stock valued at $16,330,000 after purchasing an additional 1,320 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its position in AbbVie by 13.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 2,312 shares of the company’s stock worth $391,000 after purchasing an additional 273 shares during the period. World Equity Group Inc. grew its stake in AbbVie by 5.3% during the second quarter. World Equity Group Inc. now owns 8,096 shares of the company’s stock worth $1,388,000 after buying an additional 409 shares in the last quarter. Finally, Everpar Advisors LLC increased its holdings in AbbVie by 5.5% in the 2nd quarter. Everpar Advisors LLC now owns 4,718 shares of the company’s stock valued at $809,000 after buying an additional 246 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.7 %

Shares of NYSE:ABBV opened at $173.16 on Friday. The business has a fifty day simple moving average of $185.03 and a 200 day simple moving average of $182.68. AbbVie Inc. has a 12-month low of $151.29 and a 12-month high of $207.32. The firm has a market cap of $306.00 billion, a P/E ratio of 60.13, a P/E/G ratio of 1.92 and a beta of 0.58. 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 (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the company earned $2.95 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $203.65.

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.