AbbVie Inc. (NYSE:ABBV) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 114,538 shares of the company’s stock after selling 21,611 shares during the quarter. Mizuho Securities USA LLC’s holdings in AbbVie were worth $22,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the second quarter valued at approximately $27,000. Marquette Asset Management LLC acquired a new stake in AbbVie during the third quarter worth approximately $39,000. Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, Quest Partners LLC raised its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABBV shares. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley cut their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday. BMO Capital Markets lowered their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Price Performance

Shares of NYSE ABBV opened at $164.91 on Friday. The company has a market capitalization of $291.42 billion, a price-to-earnings ratio of 57.26, a PEG ratio of 2.07 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $137.05 and a 1-year high of $207.32. The business has a 50-day moving average of $192.04 and a 200-day moving average of $180.78.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.95 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company 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. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

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.