AbbVie Inc. (NYSE:ABBV) Shares Sold by Gentry Private Wealth LLC

Gentry Private Wealth LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 4.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,142 shares of the company’s stock after selling 97 shares during the period. Gentry Private Wealth LLC’s holdings in AbbVie were worth $423,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the second quarter worth approximately $27,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Marquette Asset Management LLC acquired a new stake in AbbVie in the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 3.0 %

NYSE ABBV opened at $176.95 on Friday. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $312.70 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. The firm’s fifty day simple moving average is $189.47 and its 200-day simple moving average is $181.17.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the business posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is 215.28%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. BMO Capital Markets cut their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

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.