AbbVie Inc. (NYSE:ABBV) Shares Sold by Physicians Financial Services Inc.

by · The Markets Daily

Physicians Financial Services Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 12,095 shares of the company’s stock after selling 450 shares during the quarter. Physicians Financial Services Inc.’s holdings in AbbVie were worth $2,389,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie during the second quarter valued at approximately $27,000. Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter worth approximately $39,000. Quest Partners LLC grew its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC increased its holdings in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 0.4 %

ABBV stock traded up $0.76 during trading hours on Friday, hitting $201.27. The company’s stock had a trading volume of 301,410 shares, compared to its average volume of 5,301,797. The company has a market capitalization of $355.51 billion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63. The stock has a 50 day moving average price of $194.41 and a two-hundred day moving average price of $180.25. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV – Get Free Report) 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 the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.95 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Truist Financial upped their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $202.72.

Read Our Latest Analysis on AbbVie

About AbbVie

(Free Report)

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.

Further Reading

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