AbbVie Inc. (NYSE:ABBV) Shares Sold by Beddow Capital Management Inc.

Beddow Capital Management Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,925 shares of the company’s stock after selling 8,571 shares during the period. AbbVie comprises 2.9% of Beddow Capital Management Inc.’s portfolio, making the stock its 13th largest position. Beddow Capital Management Inc.’s holdings in AbbVie were worth $7,094,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its holdings in AbbVie by 14.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 44,132 shares of the company’s stock valued at $8,715,000 after purchasing an additional 5,640 shares during the last quarter. Wrapmanager Inc. raised its stake in AbbVie by 0.8% during the third quarter. Wrapmanager Inc. now owns 12,120 shares of the company’s stock valued at $2,393,000 after buying an additional 96 shares in the last quarter. BIP Wealth LLC grew its position in shares of AbbVie by 25.9% in the 3rd quarter. BIP Wealth LLC now owns 2,894 shares of the company’s stock worth $572,000 after acquiring an additional 595 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of AbbVie by 1.0% in the 3rd quarter. Prospera Financial Services Inc now owns 72,554 shares of the company’s stock valued at $14,337,000 after acquiring an additional 706 shares during the last quarter. Finally, Verity & Verity LLC raised its position in shares of AbbVie by 0.7% during the 3rd quarter. Verity & Verity LLC now owns 163,308 shares of the company’s stock valued at $32,250,000 after acquiring an additional 1,131 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.8 %

AbbVie stock opened at $166.26 on Tuesday. The company’s fifty day moving average price is $191.44 and its two-hundred day moving average price is $181.08. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $137.14 and a one year high of $207.32. The company has a market capitalization of $293.80 billion, a price-to-earnings ratio of 57.73, a PEG ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping 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 analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 3.95%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Morgan Stanley dropped their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. BMO Capital Markets cut their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.89.

AbbVie 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.