Certified Advisory Corp Cuts Position in AbbVie Inc. (NYSE:ABBV)

Certified Advisory Corp decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,436 shares of the company’s stock after selling 68 shares during the quarter. Certified Advisory Corp’s holdings in AbbVie were worth $1,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waddell & Associates LLC increased its position in shares of AbbVie by 3.4% during the third quarter. Waddell & Associates LLC now owns 2,022 shares of the company’s stock worth $399,000 after acquiring an additional 67 shares during the period. GenTrust LLC purchased a new stake in shares of AbbVie during the third quarter worth $252,000. Stonebrook Private Inc. increased its position in shares of AbbVie by 4.6% during the third quarter. Stonebrook Private Inc. now owns 3,072 shares of the company’s stock worth $607,000 after acquiring an additional 134 shares during the period. Nwam LLC increased its position in shares of AbbVie by 31.6% during the third quarter. Nwam LLC now owns 20,280 shares of the company’s stock worth $4,005,000 after acquiring an additional 4,865 shares during the period. Finally, Meridian Wealth Management LLC increased its position in shares of AbbVie by 3.3% during the third quarter. Meridian Wealth Management LLC now owns 74,878 shares of the company’s stock worth $14,787,000 after acquiring an additional 2,363 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ABBV shares. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. BMO Capital Markets lowered their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Truist Financial upped their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Trading Up 3.0 %

NYSE ABBV opened at $176.94 on Friday. The stock has a market capitalization of $312.68 billion, a P/E ratio of 61.44, a P/E/G ratio of 2.03 and a beta of 0.63. AbbVie Inc. has a 52-week low of $137.65 and a 52-week high of $207.32. The firm has a 50-day moving average price of $189.47 and a 200 day moving average price of $181.04. 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 (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (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 period last year, the company posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect 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. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. AbbVie’s dividend payout ratio is currently 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.