Nicolet Advisory Services LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Nicolet Advisory Services LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,222 shares of the company’s stock after selling 129 shares during the quarter. Nicolet Advisory Services LLC’s holdings in AbbVie were worth $2,193,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GGM Financials LLC raised its holdings in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the period. Pine Haven Investment Counsel Inc increased its position in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. increased its position in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after acquiring an additional 52 shares during the last quarter. Frisch Financial Group Inc. raised its stake in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the period. Finally, First Citizens Financial Corp lifted its holdings in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after acquiring an additional 53 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

ABBV stock opened at $176.94 on Friday. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32. The firm has a market cap of $312.68 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 2.03 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a 50-day simple moving average of $189.47 and a two-hundred day simple moving average of $181.04.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.71%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 215.28%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Piper Sandler increased their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.50.

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.