Fidelity D & D Bancorp Inc. Has $592,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Fidelity D & D Bancorp Inc. decreased its position in AbbVie Inc. (NYSE:ABBV) by 11.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,999 shares of the company’s stock after selling 382 shares during the period. Fidelity D & D Bancorp Inc.’s holdings in AbbVie were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the third quarter worth $999,000. Saturna Capital Corp grew its stake in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the period. Avior Wealth Management LLC grew its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. Schrum Private Wealth Management LLC increased its position in AbbVie by 57.5% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its stake in AbbVie by 8.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock worth $15,377,000 after buying an additional 5,993 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $0.29 during mid-day trading on Friday, reaching $172.90. 222,100 shares of the company’s stock were exchanged, compared to its average volume of 5,511,424. The firm has a 50-day moving average price of $185.03 and a two-hundred day moving average price of $182.68. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $305.54 billion, a price-to-earnings ratio of 60.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 52 week low of $151.29 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 firm 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 company earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company 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 $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.79%. AbbVie’s payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABBV. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Truist Financial raised 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. Finally, Morgan Stanley decreased their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $203.65.

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.