James J. Burns & Company LLC Sells 88 Shares of AbbVie Inc. (NYSE:ABBV)

James J. Burns & Company LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,369 shares of the company’s stock after selling 88 shares during the quarter. James J. Burns & Company LLC’s holdings in AbbVie were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the 2nd quarter worth $27,000. Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% during 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 acquired a new stake in AbbVie in the third quarter valued at about $39,000. Finally, Burkett Financial Services LLC boosted its stake in AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $200.47 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a market cap of $354.10 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 2.78 and a beta of 0.63. The company’s fifty day simple moving average is $194.18 and its 200 day simple moving average is $179.85. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. 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 firm posted $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Piper Sandler raised their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Wells Fargo & Company raised their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

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.