Certified Advisory Corp Sells 68 Shares of AbbVie Inc. (NYSE:ABBV)

Certified Advisory Corp reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,436 shares of the company’s stock after selling 68 shares during the period. Certified Advisory Corp’s holdings in AbbVie were worth $1,468,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABBV. China Universal Asset Management Co. Ltd. purchased a new stake in shares of AbbVie in the first quarter worth about $646,000. Quent Capital LLC raised its position in AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after purchasing an additional 283 shares during the period. Bank of Nova Scotia Trust Co. purchased a new stake in AbbVie during the first quarter valued at approximately $201,000. Bellevue Group AG raised its position in AbbVie by 310.2% during the first quarter. Bellevue Group AG now owns 27,593 shares of the company’s stock valued at $5,025,000 after purchasing an additional 20,866 shares during the period. Finally, Beaird Harris Wealth Management LLC raised its position in AbbVie by 9.9% during the first quarter. Beaird Harris Wealth Management LLC now owns 2,113 shares of the company’s stock valued at $385,000 after purchasing an additional 191 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Bank of America increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.50.

AbbVie Price Performance

Shares of AbbVie stock opened at $176.94 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $137.65 and a twelve month high of $207.32. The business has a 50-day moving average price of $189.47 and a 200 day moving average price of $181.04. The firm has a market cap of $312.68 billion, a PE ratio of 61.44, a P/E/G ratio of 2.03 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 10.95 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. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.71%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

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.