Crescent Grove Advisors LLC Has $986,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Crescent Grove Advisors LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,994 shares of the company’s stock after selling 544 shares during the period. Crescent Grove Advisors LLC’s holdings in AbbVie were worth $986,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the second quarter worth $27,000. Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% during 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, Burkett Financial Services LLC boosted its position in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. UBS Group boosted their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial raised their target price 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. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Trading Up 0.6 %

NYSE:ABBV opened at $201.69 on Wednesday. The company has a market cap of $356.25 billion, a PE ratio of 70.03, a PEG ratio of 2.54 and a beta of 0.63. 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 one year low of $135.85 and a one year high of $207.32. The firm has a 50-day moving average of $194.29 and a 200-day moving average of $180.10.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.95 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 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.