AbbVie Inc. (NYSE:ABBV) Shares Sold by 1ST Source Bank

1ST Source Bank reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,489 shares of the company’s stock after selling 328 shares during the period. 1ST Source Bank’s holdings in AbbVie were worth $5,626,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in shares of AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in AbbVie by 100.0% during 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 in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock traded up $0.19 during trading on Friday, reaching $173.38. The company’s stock had a trading volume of 599,528 shares, compared to its average volume of 5,512,602. The firm has a market cap of $306.39 billion, a PE ratio of 60.13, a P/E/G ratio of 1.92 and a beta of 0.58. The company has a 50-day moving average price of $185.03 and a two-hundred day moving average price of $182.68. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a fifty-two week low of $151.29 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business 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%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 earnings per share. On average, analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced 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. This represents a $6.56 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABBV shares. Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday. Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $203.65.

AbbVie Company 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.