AbbVie Inc. (NYSE:ABBV) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 52.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 17,998 shares of the company’s stock after selling 19,650 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in AbbVie were worth $3,554,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the second quarter valued at about $27,000. Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 2.8 %

NYSE ABBV opened at $164.91 on Friday. AbbVie Inc. has a one year low of $137.05 and a one year high of $207.32. The firm has a market cap of $291.42 billion, a PE ratio of 57.26, a P/E/G ratio of 2.07 and a beta of 0.63. The firm’s fifty day moving average is $192.04 and its two-hundred day moving average is $180.78. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last issued its earnings results 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 business had revenue of $14.46 billion for the quarter, compared to the consensus estimate 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. Analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced 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. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wolfe Research assumed coverage on AbbVie in a research note on Friday. They set an “outperform” rating and a $205.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. 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 note on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.89.

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.