James Investment Research Inc. Reduces Stake in AbbVie Inc. (NYSE:ABBV)

James Investment Research Inc. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,093 shares of the company’s stock after selling 892 shares during the period. James Investment Research Inc.’s holdings in AbbVie were worth $7,523,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new position in AbbVie in the 1st quarter worth about $646,000. Centric Wealth Management increased its stake in AbbVie by 4.5% in the 1st quarter. Centric Wealth Management now owns 9,570 shares of the company’s stock worth $1,743,000 after acquiring an additional 409 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in AbbVie by 1.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 988,750 shares of the company’s stock worth $180,052,000 after acquiring an additional 17,957 shares during the last quarter. KFA Private Wealth Group LLC increased its stake in AbbVie by 9.6% in the 1st quarter. KFA Private Wealth Group LLC now owns 2,359 shares of the company’s stock worth $430,000 after acquiring an additional 207 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its stake in AbbVie by 6.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 13,250 shares of the company’s stock worth $2,413,000 after acquiring an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen increased their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Citigroup increased their price objective on AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Trading Down 0.2 %

NYSE ABBV opened at $203.55 on Friday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a 50 day simple moving average of $194.12 and a two-hundred day simple moving average of $179.38. The stock has a market cap of $359.54 billion, a P/E ratio of 70.68, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 10.9 earnings per share for the current year.

AbbVie Increases Dividend

The company 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend 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%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.