Insigneo Advisory Services LLC Sells 2,380 Shares of AbbVie Inc. (NYSE:ABBV)

Insigneo Advisory Services LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,282 shares of the company’s stock after selling 2,380 shares during the period. Insigneo Advisory Services LLC’s holdings in AbbVie were worth $4,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the second quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the third quarter worth $28,000. Quest Partners LLC raised its holdings in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter worth $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on ABBV shares. BMO Capital Markets decreased their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.

AbbVie Stock Down 0.1 %

ABBV opened at $176.22 on Friday. AbbVie Inc. has a fifty-two week low of $144.73 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a fifty day moving average of $187.14 and a two-hundred day moving average of $182.17. The stock has a market capitalization of $311.41 billion, a price-to-earnings ratio of 61.19, a PEG ratio of 2.08 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change 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 3.72%. AbbVie’s dividend payout ratio (DPR) is 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.