Winthrop Advisory Group LLC Sells 67 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Winthrop Advisory Group LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,345 shares of the company’s stock after selling 67 shares during the quarter. Winthrop Advisory Group LLC’s holdings in AbbVie were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of AbbVie during the 1st quarter worth about $646,000. Quent Capital LLC grew its stake in AbbVie by 3.3% in the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after acquiring an additional 283 shares during the period. Nelson Capital Management LLC lifted its holdings in shares of AbbVie by 27.3% during the 1st quarter. Nelson Capital Management LLC now owns 25,989 shares of the company’s stock valued at $4,733,000 after purchasing an additional 5,578 shares in the last quarter. Benedetti & Gucer Inc. bought a new position in AbbVie in the first quarter valued at approximately $267,000. Finally, Capital Wealth Planning LLC bought a new stake in shares of AbbVie during the first quarter worth $1,751,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $200.46 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a market capitalization of $354.08 billion, a PE ratio of 69.60, a PEG ratio of 2.51 and a beta of 0.63. The firm has a 50 day moving average of $194.41 and a 200-day moving average of $180.25. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the company posted $2.95 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.27%. AbbVie’s payout ratio is 215.28%.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Bank of America increased their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, Morgan Stanley boosted their price target on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.72.

Check Out Our Latest Research Report on ABBV

AbbVie Company Profile

(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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