Acorn Wealth Advisors LLC Has $413,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Acorn Wealth Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,089 shares of the company’s stock after selling 173 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in AbbVie were worth $413,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie in the 3rd quarter valued at about $999,000. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. First Hawaiian Bank increased its stake in AbbVie by 9.0% in the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after acquiring an additional 2,657 shares during the last quarter. Avior Wealth Management LLC raised its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares in the last quarter. Finally, Schrum Private Wealth Management LLC lifted its stake in AbbVie by 57.5% during the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after purchasing an additional 6,065 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.8 %

NYSE:ABBV traded up $1.45 on Monday, reaching $178.40. 633,778 shares of the stock traded hands, compared to its average volume of 5,499,240. The firm has a market capitalization of $315.26 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. The company’s 50 day moving average is $189.47 and its 200-day moving average is $181.32. 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 $137.65 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share 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 company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the company posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. 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 3.68%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ABBV shares. Wells Fargo & Company lifted their price target on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets decreased their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley lowered their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $203.50.

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.