AbbVie Inc. (NYSE:ABBV) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 27.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,765 shares of the company’s stock after selling 663 shares during the quarter. AbbVie makes up 0.9% of LGT Financial Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. LGT Financial Advisors LLC’s holdings in AbbVie were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Pine Haven Investment Counsel Inc raised its position in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. grew its stake in AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares during the last quarter. First Citizens Financial Corp increased its position in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the period. Sunflower Bank N.A. lifted its stake in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after buying an additional 53 shares during the last quarter. Finally, Professional Financial Advisors LLC boosted its holdings in shares of AbbVie by 3.4% during the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ABBV shares. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Four investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Stock Down 0.2 %

Shares of AbbVie stock opened at $201.20 on Thursday. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $207.32. The firm has a market capitalization of $355.39 billion, a PE ratio of 69.86, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. 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 stock’s fifty day moving average is $194.41 and its 200-day moving average is $180.25.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. Equities analysts anticipate that AbbVie Inc. will post 10.97 earnings per share for the current 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 dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

AbbVie Company 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.