AbbVie Inc. (NYSE:ABBV) Position Trimmed by Diversified LLC

Diversified LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 3rd quarter, Holdings Channel reports. The firm owned 6,972 shares of the company’s stock after selling 74 shares during the quarter. Diversified LLC’s holdings in AbbVie were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. bought a new position in shares of AbbVie during the first quarter worth about $646,000. Quent Capital LLC grew its position in shares of AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after acquiring an additional 283 shares during the last quarter. Kennedy Capital Management LLC grew its position in shares of AbbVie by 4,201.9% during the first quarter. Kennedy Capital Management LLC now owns 62,506 shares of the company’s stock worth $11,382,000 after acquiring an additional 61,053 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its position in shares of AbbVie by 13.2% during the first quarter. Industrial Alliance Investment Management Inc. now owns 6,597 shares of the company’s stock worth $1,201,000 after acquiring an additional 767 shares during the last quarter. Finally, Whalerock Point Partners LLC grew its position in shares of AbbVie by 1.4% during the first quarter. Whalerock Point Partners LLC now owns 11,064 shares of the company’s stock worth $2,015,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $176.95 on Monday. 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 one year low of $137.65 and a one year high of $207.32. The firm has a market capitalization of $312.70 billion, a PE ratio of 61.44, a P/E/G ratio of 2.16 and a beta of 0.63. The firm has a 50-day moving average of $189.47 and a two-hundred day moving average of $181.32.

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

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Finally, BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $203.50.

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.