Fiduciary Family Office LLC Sells 216 Shares of AbbVie Inc. (NYSE:ABBV)

Fiduciary Family Office LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 3.0% in the 3rd quarter, Holdings Channel reports. The firm owned 6,926 shares of the company’s stock after selling 216 shares during the period. Fiduciary Family Office LLC’s holdings in AbbVie were worth $1,368,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $27,000. Quest Partners LLC boosted its holdings in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the period. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the third quarter valued at approximately $39,000. Finally, Burkett Financial Services LLC boosted its holdings in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America upped their price target 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. Truist Financial upped their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.00.

AbbVie Stock Up 0.1 %

ABBV traded up $0.17 during mid-day trading on Tuesday, reaching $200.64. 744,301 shares of the stock were exchanged, compared to its average volume of 5,299,574. The company has a 50 day moving average price of $194.18 and a two-hundred day moving average price of $179.85. 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 stock has a market capitalization of $354.40 billion, a PE ratio of 69.84, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the previous year, the business posted $2.95 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.27%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is 215.28%.

About AbbVie

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.