AbbVie Inc. (NYSE:ABBV) Holdings Trimmed by Davies Financial Advisors Inc.

Davies Financial Advisors Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 19.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,807 shares of the company’s stock after selling 676 shares during the period. Davies Financial Advisors Inc.’s holdings in AbbVie were worth $499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the third quarter worth $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the fourth quarter valued at about $35,000. Marquette Asset Management LLC bought a new stake in AbbVie in the third quarter valued at about $39,000. Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in AbbVie during the third quarter worth about $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ABBV shares. Citigroup decreased their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Truist Financial decreased their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given 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 a consensus target price of $205.50.

AbbVie Stock Up 0.5 %

ABBV stock opened at $172.41 on Wednesday. The company has a fifty day moving average price of $175.72 and a 200 day moving average price of $184.80. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a market cap of $304.67 billion, a price-to-earnings ratio of 59.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company earned $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.