GoalVest Advisory LLC Sells 288 Shares of AbbVie Inc. (NYSE:ABBV)

GoalVest Advisory LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,572 shares of the company’s stock after selling 288 shares during the quarter. AbbVie comprises about 0.8% of GoalVest Advisory LLC’s investment portfolio, making the stock its 18th largest position. GoalVest Advisory LLC’s holdings in AbbVie were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Saturna Capital Corp raised its stake in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. First Hawaiian Bank increased its position in shares of AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares during the period. PGGM Investments increased its position in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares during the period. Schrum Private Wealth Management LLC increased its position in shares of AbbVie by 57.5% during the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of AbbVie by 8.3% during the third quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock valued at $15,377,000 after buying an additional 5,993 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 2.7 %

ABBV opened at $164.99 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $137.05 and a 1-year high of $207.32. The company has a market capitalization of $291.56 billion, a PE ratio of 57.29, a PEG ratio of 2.07 and a beta of 0.63. The firm’s 50 day simple moving average is $192.04 and its two-hundred day simple moving average is $180.91.

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 the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the firm earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.98%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABBV shares. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler upped their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

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.