Roman Butler Fullerton & Co. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,269 shares of the company’s stock after selling 191 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in AbbVie were worth $374,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of ABBV. Capstone Financial Group Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at about $25,000. Lake Point Wealth Management raised its holdings in AbbVie by 179.4% in the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock worth $36,000 after purchasing an additional 305 shares during the period. RMR Wealth Builders acquired a new position in AbbVie in the 2nd quarter worth about $44,000. Weaver Consulting Group raised its holdings in AbbVie by 64.3% in the 2nd quarter. Weaver Consulting Group now owns 562 shares of the company’s stock worth $55,000 after purchasing an additional 220 shares during the period. Finally, Larson Financial Group LLC raised its holdings in AbbVie by 56.4% in the 2nd quarter. Larson Financial Group LLC now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 230 shares during the period. 68.23% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on ABBV. Mizuho reaffirmed a “buy” rating and issued a $111.00 price target on shares of AbbVie in a report on Sunday, September 27th. Citigroup boosted their price objective on AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. boosted their price objective on AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley boosted their price objective on AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, Atlantic Securities upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 price objective for the company in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $108.63.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. The business had revenue of $10.43 billion during the quarter, compared to analyst estimates of $10.14 billion. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The business’s revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 10.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $1.18 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $4.72 annualized dividend and a yield of 5.47%. AbbVie’s payout ratio is 52.80%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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