Wilkinson Global Asset Management LLC Sells 232 Shares of AbbVie Inc. (NYSE:ABBV)

Wilkinson Global Asset Management LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,630 shares of the company’s stock after selling 232 shares during the period. Wilkinson Global Asset Management LLC’s holdings in AbbVie were worth $3,679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth about $27,000. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the period. Marquette Asset Management LLC bought a new position in shares of AbbVie during the third quarter worth about $39,000. Finally, Burkett Financial Services LLC raised its position in AbbVie by 61.2% in the 3rd 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 last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABBV shares. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday. BMO Capital Markets lifted their price target on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Price Performance

Shares of ABBV opened at $201.20 on Thursday. The firm has a market capitalization of $355.39 billion, a PE ratio of 69.86, a PEG ratio of 2.54 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company’s 50-day moving average is $194.41 and its 200-day moving average is $180.25. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 10.97 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 $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 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.