Alan B Lancz & Associates Inc. Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Alan B Lancz & Associates Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,624 shares of the company’s stock after selling 150 shares during the period. AbbVie makes up approximately 1.0% of Alan B Lancz & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. Alan B Lancz & Associates Inc.’s holdings in AbbVie were worth $1,111,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter valued at about $27,000. Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter worth about $39,000. Finally, Burkett Financial Services LLC boosted its stake in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Guggenheim boosted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial upped their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.82.

AbbVie Trading Down 0.5 %

NYSE ABBV opened at $199.50 on Friday. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32. The company has a market capitalization of $352.54 billion, a price-to-earnings ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.71. The firm’s fifty day moving average price is $194.58 and its 200 day moving average price is $180.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the company posted $2.95 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 yield of 3.29%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 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.