XML Financial LLC Has $2.80 Million Position in AbbVie Inc. (NYSE:ABBV)

XML Financial LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,194 shares of the company’s stock after selling 165 shares during the period. XML Financial LLC’s holdings in AbbVie were worth $2,803,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new stake in shares of AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $27,000. Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the third quarter worth approximately $39,000. Finally, Burkett Financial Services LLC boosted its holdings 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 acquiring an additional 82 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

ABBV stock opened at $199.50 on Friday. The company has a market capitalization of $352.54 billion, a P/E ratio of 69.27, a price-to-earnings-growth 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 business has a 50-day simple moving average of $194.58 and a two-hundred day simple moving average of $180.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. AbbVie’s revenue was up 3.8% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.96 EPS for the current fiscal 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 3.29%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABBV. Truist Financial upped their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Guggenheim upped their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup lifted their target price on AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, UBS Group boosted their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $205.82.

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.