AbbVie Inc. (NYSE:ABBV) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,462 shares of the company’s stock after selling 987 shares during the quarter. AbbVie comprises approximately 0.7% of Sigma Planning Corp’s portfolio, making the stock its 20th largest position. Sigma Planning Corp’s holdings in AbbVie were worth $21,617,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. First Hawaiian Bank boosted its stake in shares of AbbVie by 9.0% in the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the period. PGGM Investments boosted its position in AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares during the period. Foresight Capital Management Advisors Inc. purchased a new position in AbbVie in the 2nd quarter valued at approximately $1,349,000. Sumitomo Life Insurance Co. grew its stake in shares of AbbVie by 29.6% in the third quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock worth $5,333,000 after acquiring an additional 6,161 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC increased its position in shares of AbbVie by 109.1% during the third quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,301 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several analyst reports. Morgan Stanley boosted their target price on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Citigroup upped their target price on shares of AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Bank of America lifted their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.82.

AbbVie Trading Down 0.5 %

NYSE:ABBV opened at $199.50 on Friday. The company has a market capitalization of $352.54 billion, a PE ratio of 69.27, a P/E/G ratio of 2.46 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32. The stock’s 50 day moving average price is $194.58 and its 200 day moving average price is $180.61. The company has a quick ratio of 0.71, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 EPS. On average, research analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 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.