AHL Investment Management Inc. Sells 239 Shares of AbbVie Inc. (NYSE:ABBV)

AHL Investment Management Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,200 shares of the company’s stock after selling 239 shares during the period. AbbVie makes up approximately 3.0% of AHL Investment Management Inc.’s holdings, making the stock its 11th largest holding. AHL Investment Management Inc.’s holdings in AbbVie were worth $4,384,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Catalina Capital Group LLC grew its stake in shares of AbbVie by 9.8% in the 3rd quarter. Catalina Capital Group LLC now owns 10,113 shares of the company’s stock valued at $1,997,000 after purchasing an additional 903 shares during the period. Avidian Wealth Enterprises LLC grew its stake in shares of AbbVie by 2.3% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 16,022 shares of the company’s stock valued at $3,164,000 after purchasing an additional 353 shares during the period. Beacon Financial Advisory LLC grew its stake in shares of AbbVie by 1.9% in the 3rd quarter. Beacon Financial Advisory LLC now owns 8,368 shares of the company’s stock valued at $1,653,000 after purchasing an additional 157 shares during the period. Balentine LLC grew its stake in shares of AbbVie by 87.4% in the 3rd quarter. Balentine LLC now owns 10,842 shares of the company’s stock valued at $2,141,000 after purchasing an additional 5,056 shares during the period. Finally, JFG Wealth Management LLC grew its position in AbbVie by 8.4% during the 3rd quarter. JFG Wealth Management LLC now owns 2,304 shares of the company’s stock worth $455,000 after acquiring an additional 178 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 firms recently commented on ABBV. Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Morgan Stanley increased their price target on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Citigroup increased their price target on AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, UBS Group increased 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 equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Stock Performance

ABBV stock opened at $201.69 on Wednesday. The business’s fifty day moving average is $194.29 and its 200-day moving average is $180.10. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market cap of $356.25 billion, a P/E ratio of 70.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month 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, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. 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 3.25%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 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.