AbbVie Inc. (NYSE:ABBV) Stock Position Trimmed by McIlrath & Eck LLC

McIlrath & Eck LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 15.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 826 shares of the company’s stock after selling 153 shares during the period. McIlrath & Eck LLC’s holdings in AbbVie were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the third quarter worth about $999,000. Saturna Capital Corp lifted its stake in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the period. Avior Wealth Management LLC boosted its holdings in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares in the last quarter. PGGM Investments increased its stake in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after acquiring an additional 24,756 shares during the period. Finally, Schrum Private Wealth Management LLC lifted its position in AbbVie by 57.5% in the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after purchasing an additional 6,065 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $175.76 on Wednesday. The company has a market capitalization of $310.59 billion, a PE ratio of 61.03, a PEG ratio of 2.01 and a beta of 0.58. 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’s 50 day moving average price is $186.35 and its 200 day moving average price is $182.67. AbbVie Inc. has a 52 week low of $150.16 and a 52 week high of $207.32.

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 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 the consensus estimate of $14.28 billion. During the same period in the prior year, the business posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal 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. 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 3.73%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Analysts Set New Price Targets

A number of research firms have recently commented on ABBV. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. 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. Morgan Stanley reduced their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Finally, TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.19.

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.