AbbVie Inc. (NYSE:ABBV) Stock Holdings Lessened by Knuff & Co LLC

Knuff & Co LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,775 shares of the company’s stock after selling 100 shares during the period. Knuff & Co LLC’s holdings in AbbVie were worth $1,535,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC grew its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ABBV shares. 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. Truist Financial raised their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup reduced their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday. They set an “outperform” rating and a $205.00 target price on the stock. Finally, UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Stock Up 0.8 %

Shares of AbbVie stock opened at $166.26 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $137.14 and a 12-month high of $207.32. The firm has a market capitalization of $293.80 billion, a PE ratio of 57.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The stock’s fifty day moving average is $191.44 and its 200-day moving average is $181.08.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.95%. AbbVie’s payout ratio 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.