J. W. Coons Advisors LLC Sells 75 Shares of AbbVie Inc. (NYSE:ABBV)

J. W. Coons Advisors LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,229 shares of the company’s stock after selling 75 shares during the quarter. J. W. Coons Advisors LLC’s holdings in AbbVie were worth $2,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the second quarter worth approximately $27,000. Quest Partners LLC grew its position in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Marquette Asset Management LLC bought a new position in shares of AbbVie during the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research began coverage on shares of AbbVie in a report on Friday. They issued an “outperform” rating and a $205.00 price objective for the company. Guggenheim raised their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $203.89.

AbbVie Stock Down 2.7 %

AbbVie stock opened at $164.99 on Monday. AbbVie Inc. has a 12-month low of $137.05 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 company has a market capitalization of $291.56 billion, a PE ratio of 57.29, a PEG ratio of 2.01 and a beta of 0.63. The firm’s fifty day moving average is $192.04 and its 200 day moving average is $181.04.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the business earned $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 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 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 3.98%. AbbVie’s dividend payout ratio is presently 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.