Wealthquest Corp lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 55.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,766 shares of the company's stock after selling 3,495 shares during the period. Wealthquest Corp's holdings in AbbVie were worth $545,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of ABBV. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of AbbVie during the third quarter valued at about $999,000. Saturna Capital Corp raised its holdings in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after buying an additional 560,808 shares during the last quarter. Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after buying an additional 10,768 shares during the period. Schrum Private Wealth Management LLC grew its holdings in AbbVie by 57.5% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company's stock worth $3,282,000 after acquiring an additional 6,065 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in AbbVie by 8.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company's stock valued at $15,377,000 after acquiring an additional 5,993 shares during the period. 70.23% of the stock is currently owned by institutional investors.
ABBV opened at $174.40 on Thursday. The company has a market cap of $308.19 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 2.01 and a beta of 0.58. The company's fifty day moving average price is $185.92 and its two-hundred day moving average price is $182.80. AbbVie Inc. has a 1-year low of $150.16 and a 1-year high of $207.32. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly 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. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. On average, analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio is presently 227.78%.
Several analysts recently weighed in on the stock. Leerink Partnrs raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. William Blair upgraded AbbVie to a "strong-buy" rating in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $203.65.
Get Our Latest Stock Report on 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.
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