Sanders Capital LLC Sells 1,395 Shares of AbbVie Inc. (NYSE:ABBV)

Sanders Capital LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 553,453 shares of the company’s stock after selling 1,395 shares during the period. Sanders Capital LLC’s holdings in AbbVie were worth $109,296,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in ABBV. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie during the second quarter worth about $27,000. Quest Partners LLC raised its position in AbbVie by 4,140.0% in the 2nd 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 last quarter. Marquette Asset Management LLC bought a new stake in AbbVie in the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $177.28 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. The company has a market cap of $313.28 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 2.16 and a beta of 0.63. The stock has a fifty day moving average price of $189.09 and a 200-day moving average price of $181.44.

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, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.70%. AbbVie’s dividend payout ratio is presently 227.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

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.