AbbVie Inc. (NYSE:ABBV) Stock Position Reduced by L.M. Kohn & Company

by · The Markets Daily

L.M. Kohn & Company decreased its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,075 shares of the company’s stock after selling 234 shares during the quarter. AbbVie accounts for approximately 0.7% of L.M. Kohn & Company’s holdings, making the stock its 27th largest position. L.M. Kohn & Company’s holdings in AbbVie were worth $2,582,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ironwood Investment Counsel LLC lifted its position in shares of AbbVie by 0.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 9,897 shares of the company’s stock worth $1,955,000 after buying an additional 66 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in AbbVie by 85.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 557,332 shares of the company’s stock worth $110,062,000 after acquiring an additional 256,406 shares during the last quarter. Fred Alger Management LLC lifted its holdings in AbbVie by 17.5% in the third quarter. Fred Alger Management LLC now owns 102,765 shares of the company’s stock worth $20,294,000 after acquiring an additional 15,332 shares during the last quarter. Captrust Financial Advisors boosted its stake in AbbVie by 5.2% in the third quarter. Captrust Financial Advisors now owns 1,228,865 shares of the company’s stock valued at $242,676,000 after acquiring an additional 61,104 shares during the period. Finally, Icon Wealth Advisors LLC grew its holdings in shares of AbbVie by 1.6% during the third quarter. Icon Wealth Advisors LLC now owns 38,764 shares of the company’s stock valued at $7,655,000 after purchasing an additional 618 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ABBV shares. BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

Check Out Our Latest Research Report on ABBV

AbbVie Trading Down 0.1 %

NYSE:ABBV opened at $182.93 on Friday. The stock has a fifty day simple moving average of $188.23 and a 200 day simple moving average of $181.75. The firm has a market capitalization of $323.26 billion, a price-to-earnings ratio of 63.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a 1-year low of $138.01 and a 1-year high of $207.32. 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 – Get Free Report) last released its earnings results 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. The business 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 244.01%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. Sell-side 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 given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.59%. 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 227.78%.

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.

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