Stifel Financial Corp Sells 28,036 Shares of AbbVie Inc. (NYSE:ABBV)

Stifel Financial Corp reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,501,666 shares of the company’s stock after selling 28,036 shares during the period. Stifel Financial Corp owned 0.14% of AbbVie worth $494,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. SYM FINANCIAL Corp increased its position in shares of AbbVie by 9.1% during the third quarter. SYM FINANCIAL Corp now owns 2,303 shares of the company’s stock valued at $455,000 after buying an additional 193 shares during the period. Quantinno Capital Management LP increased its position in shares of AbbVie by 53.3% during the third quarter. Quantinno Capital Management LP now owns 157,560 shares of the company’s stock valued at $31,115,000 after buying an additional 54,769 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of AbbVie by 0.9% during the third quarter. Royal London Asset Management Ltd. now owns 1,371,288 shares of the company’s stock worth $270,802,000 after purchasing an additional 12,248 shares in the last quarter. Resurgent Financial Advisors LLC grew its holdings in shares of AbbVie by 22.9% during the third quarter. Resurgent Financial Advisors LLC now owns 3,209 shares of the company’s stock worth $634,000 after purchasing an additional 598 shares in the last quarter. Finally, Pinpoint Asset Management Ltd grew its holdings in shares of AbbVie by 1.6% during the third quarter. Pinpoint Asset Management Ltd now owns 12,360 shares of the company’s stock worth $2,441,000 after purchasing an additional 200 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of AbbVie stock opened at $176.55 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $311.99 billion, a PE ratio of 61.30, a P/E/G ratio of 2.08 and a beta of 0.58. The business has a 50 day moving average of $187.45 and a 200 day moving average of $182.21. AbbVie Inc. has a 52 week low of $142.66 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last announced 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. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current 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 issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. UBS Group boosted 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. Wells Fargo & Company boosted their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

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.