AbbVie Inc. (NYSE:ABBV) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 25.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,613 shares of the company’s stock after selling 6,063 shares during the period. NorthRock Partners LLC’s holdings in AbbVie were worth $3,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $646,000. Quent Capital LLC boosted its position in shares of AbbVie by 3.3% during the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after acquiring an additional 283 shares in the last quarter. Commerce Bank increased its holdings in shares of AbbVie by 5.2% in the 1st quarter. Commerce Bank now owns 519,647 shares of the company’s stock valued at $94,628,000 after acquiring an additional 25,500 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of AbbVie by 1.4% during the 1st quarter. Rehmann Capital Advisory Group now owns 13,218 shares of the company’s stock worth $2,407,000 after acquiring an additional 180 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in AbbVie by 13.7% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 20,826 shares of the company’s stock worth $3,792,000 after purchasing an additional 2,515 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on shares of AbbVie from $218.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Price Performance

Shares of NYSE ABBV traded down $0.47 during trading on Tuesday, hitting $200.00. 363,253 shares of the company were exchanged, compared to its average volume of 5,296,919. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The company has a market cap of $353.27 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 2.54 and a beta of 0.63. The firm’s fifty day moving average price is $194.18 and its 200 day moving average price is $179.85.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS 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 226.99%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.97 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid 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 dividend yield of 3.28%. AbbVie’s dividend payout ratio is presently 215.28%.

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.