AbbVie Inc. (NYSE:ABBV) Shares Sold by Mission Creek Capital Partners Inc.

Mission Creek Capital Partners Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,082 shares of the company’s stock after selling 269 shares during the period. Mission Creek Capital Partners Inc.’s holdings in AbbVie were worth $3,176,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Fairway Wealth LLC purchased a new stake in AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the 2nd quarter worth $27,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth about $28,000. Quest Partners LLC grew its stake 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 acquiring an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in AbbVie during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ABBV. UBS Group raised 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. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial upped their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets cut their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.50.

AbbVie Stock Down 0.1 %

NYSE ABBV opened at $181.50 on Wednesday. The business has a 50 day moving average price of $187.74 and a two-hundred day moving average price of $182.25. The stock has a market cap of $320.74 billion, a PE ratio of 63.02, a P/E/G ratio of 2.08 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company earned $2.95 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 3.61%. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.