AbbVie Inc. (NYSE:ABBV) Stock Holdings Trimmed by Hollencrest Capital Management

Hollencrest Capital Management lessened its position in AbbVie Inc. (NYSE:ABBV) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,221 shares of the company’s stock after selling 315 shares during the period. Hollencrest Capital Management’s holdings in AbbVie were worth $1,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of AbbVie in the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the 2nd quarter worth $27,000. Quest Partners LLC grew its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the 3rd quarter worth $39,000. Finally, Burkett Financial Services LLC grew its holdings in shares of AbbVie by 61.2% in the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.72.

AbbVie Stock Up 0.4 %

ABBV traded up $0.72 during trading on Friday, reaching $201.23. 772,639 shares of the stock traded hands, compared to its average volume of 5,303,564. The stock has a market cap of $355.44 billion, a price-to-earnings ratio of 69.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock’s 50-day simple moving average is $194.41 and its two-hundred day simple moving average is $180.25.

AbbVie (NYSE:ABBV) last announced 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 return on equity of 226.99% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the firm 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, equities research analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.26%. AbbVie’s dividend payout ratio is 215.28%.

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.