AbbVie Inc. (NYSE:ABBV) Stock Position Lessened by Capital Wealth Alliance LLC

Capital Wealth Alliance LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 22,982 shares of the company’s stock after selling 90 shares during the period. AbbVie makes up about 2.6% of Capital Wealth Alliance LLC’s portfolio, making the stock its 10th biggest holding. Capital Wealth Alliance LLC’s holdings in AbbVie were worth $4,538,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position in AbbVie by 0.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 9,416 shares of the company’s stock worth $1,858,000 after purchasing an additional 62 shares in the last quarter. Arlington Capital Management Inc. boosted its stake in shares of AbbVie by 15.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 1,506 shares of the company’s stock worth $297,000 after purchasing an additional 202 shares during the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of AbbVie by 28.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 52,646 shares of the company’s stock worth $10,397,000 after buying an additional 11,538 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its position in shares of AbbVie by 12.9% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 56,248 shares of the company’s stock valued at $11,108,000 after buying an additional 6,420 shares during the last quarter. Finally, PDS Planning Inc lifted its stake in shares of AbbVie by 4.5% during the third quarter. PDS Planning Inc now owns 108,502 shares of the company’s stock valued at $21,427,000 after buying an additional 4,623 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group upped their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. BMO Capital Markets raised their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup raised their target price on shares of AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Stock Down 0.7 %

AbbVie stock traded down $1.45 during trading on Monday, reaching $202.10. 733,959 shares of the company’s stock were exchanged, compared to its average volume of 5,307,825. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32. The firm has a market cap of $356.98 billion, a price-to-earnings ratio of 70.08, a PEG ratio of 2.78 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company’s 50-day moving average is $194.12 and its two-hundred day moving average is $179.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts predict 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. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie’s dividend payout ratio (DPR) 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.