AbbVie Inc. (NYSE:ABBV) Holdings Lowered by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 633,746 shares of the company’s stock after selling 2,899 shares during the quarter. AbbVie comprises about 2.4% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 8th largest position. Ferguson Wellman Capital Management Inc.’s holdings in AbbVie were worth $125,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Saturna Capital Corp raised its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. First Hawaiian Bank grew its position in AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after purchasing an additional 2,657 shares during the last quarter. PGGM Investments increased its position in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares during the period. Schrum Private Wealth Management LLC grew its stake in shares of 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 purchasing an additional 6,065 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in AbbVie by 8.3% during the third 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 last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.5 %

NYSE ABBV traded down $0.85 during trading on Thursday, reaching $169.50. The company’s stock had a trading volume of 291,522 shares, compared to its average volume of 5,406,686. The stock has a market capitalization of $299.53 billion, a PE ratio of 59.19, a PEG ratio of 2.08 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1-year low of $136.30 and a 1-year high of $207.32. The business has a 50-day moving average price of $193.08 and a 200-day moving average price of $180.84.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the company posted $2.95 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal 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 paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.87%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of research reports. Citigroup cut their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $203.83.

About AbbVie

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.