Semmax Financial Advisors Inc. Reduces Position in AbbVie Inc. (NYSE:ABBV)

Semmax Financial Advisors Inc. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 18.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478 shares of the company’s stock after selling 111 shares during the period. Semmax Financial Advisors Inc.’s holdings in AbbVie were worth $94,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Bellevue Group AG increased its holdings in AbbVie by 1.6% in the 3rd quarter. Bellevue Group AG now owns 42,886 shares of the company’s stock worth $8,469,000 after acquiring an additional 682 shares in the last quarter. Cobblestone Capital Advisors LLC NY boosted its position in shares of AbbVie by 4.4% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 11,562 shares of the company’s stock worth $2,283,000 after purchasing an additional 484 shares during the period. Encompass More Asset Management purchased a new stake in shares of AbbVie in the third quarter worth $308,000. Edgestream Partners L.P. bought a new stake in shares of AbbVie during the 3rd quarter valued at $9,571,000. Finally, Acropolis Investment Management LLC lifted its stake in shares of AbbVie by 10.2% during the 3rd quarter. Acropolis Investment Management LLC now owns 4,272 shares of the company’s stock valued at $844,000 after buying an additional 394 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Bank of America upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Three research 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. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Price Performance

AbbVie stock opened at $182.93 on Friday. The firm has a market capitalization of $323.26 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a 12-month low of $138.01 and a 12-month high of $207.32. The firm has a 50-day moving average price of $188.23 and a 200-day moving average price of $181.89. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) 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 business 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 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.59%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.