DeDora Capital Inc. Sells 61 Shares of AbbVie Inc. (NYSE:ABBV)

DeDora Capital Inc. cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,180 shares of the company’s stock after selling 61 shares during the period. AbbVie accounts for about 0.9% of DeDora Capital Inc.’s portfolio, making the stock its 28th biggest position. DeDora Capital Inc.’s holdings in AbbVie were worth $3,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Coast Financial LLC raised its holdings in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after buying an additional 140 shares during the period. FCG Investment Co acquired a new stake in shares of AbbVie in the first quarter worth $1,413,000. BluePath Capital Management LLC raised its stake in shares of AbbVie by 0.9% during the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after buying an additional 67 shares during the last quarter. Palisade Asset Management LLC boosted its position in AbbVie by 65.6% in the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after purchasing an additional 38,562 shares in the last quarter. Finally, First Hawaiian Bank grew its position in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.1 %

Shares of NYSE:ABBV traded up $0.15 during trading on Tuesday, hitting $186.69. The company’s stock had a trading volume of 197,952 shares, compared to its average volume of 5,272,350. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The business has a 50 day moving average price of $194.37 and a two-hundred day moving average price of $177.88. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market capitalization of $329.67 billion, a PE ratio of 55.38, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the business posted $2.91 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.32%. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. BMO Capital Markets boosted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group raised their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial boosted their price target on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $198.47.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

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.