L & S Advisors Inc Sells 1,389 Shares of AbbVie Inc. (NYSE:ABBV)

L & S Advisors Inc lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,696 shares of the company’s stock after selling 1,389 shares during the period. L & S Advisors Inc’s holdings in AbbVie were worth $3,692,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the second quarter worth about $27,000. Quest Partners LLC boosted its holdings 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 buying an additional 207 shares during the last quarter. Marquette Asset Management LLC bought a new position in AbbVie during the third quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Piper Sandler raised 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. Wells Fargo & Company raised their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets dropped their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays raised their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $203.37.

AbbVie Stock Up 0.2 %

Shares of AbbVie stock opened at $168.10 on Thursday. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock’s 50-day moving average is $190.25 and its 200 day moving average is $181.01. The firm has a market cap of $297.06 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.03 and a beta of 0.63.

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 return on equity of 244.01% and a net margin of 9.22%. 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 earned $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.90%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. 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.