Sheaff Brock Investment Advisors LLC Sells 1,541 Shares of AbbVie Inc. (NYSE:ABBV)

Sheaff Brock Investment Advisors LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,029 shares of the company’s stock after selling 1,541 shares during the period. AbbVie accounts for approximately 1.1% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 16th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in AbbVie were worth $12,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie in the 2nd quarter worth $27,000. Quest Partners LLC increased its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ABBV shares. Wolfe Research initiated coverage on AbbVie in a research note on Friday. They set an “outperform” rating and a $205.00 price objective on the stock. Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday. Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Citigroup reduced their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.89.

AbbVie Trading Down 0.4 %

Shares of NYSE ABBV opened at $169.63 on Friday. AbbVie Inc. has a twelve month low of $136.30 and a twelve month high of $207.32. The firm has a market cap of $299.76 billion, a PE ratio of 58.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. The business has a fifty day simple moving average of $193.08 and a two-hundred day simple moving average of $180.84. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

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

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued 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 dividend on an annualized basis and a yield of 3.87%. AbbVie’s payout ratio is currently 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.