Mesirow Financial Investment Management Inc. Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Mesirow Financial Investment Management Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 165,212 shares of the company’s stock after selling 1,369 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in AbbVie were worth $32,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at $27,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter worth $39,000. Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares in the last quarter. Finally, Burkett Financial Services LLC grew its position in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.5 %

Shares of NYSE ABBV opened at $199.50 on Friday. The firm has a fifty day simple moving average of $194.58 and a two-hundred day simple moving average of $180.61. The firm has a market capitalization of $352.54 billion, a PE ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.29%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Piper Sandler raised their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $205.82.

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.