O ROURKE & COMPANY Inc Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

O ROURKE & COMPANY Inc lowered its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,693 shares of the company’s stock after selling 110 shares during the period. O ROURKE & COMPANY Inc’s holdings in AbbVie were worth $412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Bradley & Co. Private Wealth Management LLC lifted its holdings in shares of AbbVie by 80.6% in the second quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 79 shares in the last quarter. Cordant Inc. acquired a new position in shares of AbbVie in the first quarter valued at approximately $42,000. Monumental Financial Group Inc. acquired a new position in shares of AbbVie in the first quarter valued at approximately $52,000. Goodman Advisory Group LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $53,000. Finally, Banco de Sabadell S.A acquired a new position in shares of AbbVie in the second quarter valued at approximately $59,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Argus cut their price objective on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, August 24th. Barclays dropped their price target on shares of AbbVie from $160.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday, October 31st. Credit Suisse Group initiated coverage on shares of AbbVie in a research report on Thursday, November 17th. They set an “outperform” rating and a $170.00 price target for the company. Morgan Stanley dropped their price target on shares of AbbVie from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Monday, October 31st. Finally, SVB Leerink dropped their price target on shares of AbbVie from $140.00 to $135.00 and set an “underperform” rating for the company in a research report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.32.

AbbVie Stock Down 0.3 %

Shares of ABBV stock traded down $0.40 on Thursday, hitting $159.39. The stock had a trading volume of 3,221,178 shares, compared to its average volume of 6,001,301. The firm has a market capitalization of $281.88 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.50 and a beta of 0.69. The stock’s 50 day moving average is $145.57 and its 200-day moving average is $145.75. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.83 and a current ratio of 0.93. AbbVie Inc. has a 52-week low of $115.10 and a 52-week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last announced its earnings results on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.09. The business had revenue of $14.81 billion during the quarter, compared to the consensus estimate of $14.95 billion. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.33 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 14.01 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 12th. This is an increase from AbbVie’s previous quarterly dividend of $1.41. This represents a $5.92 annualized dividend and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is 75.30%.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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