Capasso Planning Partners LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 15.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,242 shares of the company’s stock after selling 2,030 shares during the period. AbbVie accounts for about 0.7% of Capasso Planning Partners LLC’s portfolio, making the stock its 29th largest position. Capasso Planning Partners LLC’s holdings in AbbVie were worth $2,220,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC raised its position in AbbVie by 32.8% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,732 shares of the company’s stock worth $539,000 after purchasing an additional 675 shares during the last quarter. American Trust increased its stake in shares of AbbVie by 3.4% in the 3rd quarter. American Trust now owns 6,691 shares of the company’s stock valued at $1,321,000 after buying an additional 223 shares during the period. Old North State Trust LLC raised its position in shares of AbbVie by 1.3% during the third quarter. Old North State Trust LLC now owns 7,432 shares of the company’s stock worth $1,468,000 after acquiring an additional 95 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of AbbVie by 5.4% during the third quarter. Peapack Gladstone Financial Corp now owns 209,463 shares of the company’s stock valued at $41,364,000 after acquiring an additional 10,697 shares during the period. Finally, Tidal Investments LLC boosted its holdings in AbbVie by 0.7% in the third quarter. Tidal Investments LLC now owns 113,375 shares of the company’s stock valued at $22,389,000 after acquiring an additional 780 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Citigroup cut their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group lifted their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets decreased their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.65.
AbbVie Trading Down 0.7 %
Shares of AbbVie stock opened at $173.16 on Friday. AbbVie Inc. has a 12-month low of $151.29 and a 12-month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business’s 50 day moving average is $185.03 and its 200-day moving average is $182.68. The stock has a market cap of $306.00 billion, a P/E ratio of 60.13, a P/E/G ratio of 1.92 and a beta of 0.58.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.95 earnings per share. Equities research analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.
AbbVie Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is currently 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.
See Also
- Five stocks we like better than AbbVie
- Investing in Commodities: What Are They? How to Invest in Them
- 3 Consumer Discretionary Stocks Ready for a Comeback in 2025
- 2 Rising CRM Platform Stocks That Can Surge Higher in 2025
- Top 3 Robotics and Automation Stocks for the Next AI Boom
- Where to Find Earnings Call Transcripts
- Why a Stock Split Could Be a Game-Changer for Casey’s in 2025
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.