Pin Oak Investment Advisors Inc. Sells 220 Shares of AbbVie Inc. (NYSE:ABBV)

Pin Oak Investment Advisors Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,929 shares of the company’s stock after selling 220 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in AbbVie were worth $578,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. GGM Financials LLC increased its position in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc increased its holdings in AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its position in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. lifted its stake in AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp grew its stake in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after buying an additional 53 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.1 %

Shares of AbbVie stock opened at $183.09 on Thursday. The company’s fifty day moving average is $188.65 and its two-hundred day moving average is $181.59. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $323.55 billion, a P/E ratio of 63.57, a PEG ratio of 2.02 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 EPS. Analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.58%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Analyst Ratings Changes

ABBV has been the topic of several research reports. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, UBS Group boosted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

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.