AbbVie Inc. (NYSE:ABBV) Stake Reduced by Intellectus Partners LLC

Intellectus Partners LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 41.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,131 shares of the company’s stock after selling 4,408 shares during the period. Intellectus Partners LLC’s holdings in AbbVie were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. Capital World Investors boosted its position in shares of AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares during the period. Capital International Investors increased its stake in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Finally, Swedbank AB acquired a new stake in AbbVie during the 1st quarter worth about $367,372,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Bank of America boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $203.83.

AbbVie Stock Performance

AbbVie stock opened at $169.63 on Friday. The firm has a market capitalization of $299.76 billion, a P/E ratio of 58.90, a P/E/G ratio of 2.08 and a beta of 0.63. The stock has a fifty day moving average price of $193.08 and a two-hundred day moving average price of $180.84. AbbVie Inc. has a 52-week low of $136.30 and a 52-week high of $207.32. 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 (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.95 EPS. As a group, analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal 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 issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

About AbbVie

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.