Fifth Third Wealth Advisors LLC Sells 361 Shares of AbbVie Inc. (NYSE:ABBV)

Fifth Third Wealth Advisors LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,771 shares of the company’s stock after selling 361 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in AbbVie were worth $7,778,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GGM Financials LLC lifted its holdings in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares during the period. Pine Haven Investment Counsel Inc increased its holdings in AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares during the period. Dillon & Associates Inc. raised its position in AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares during the last quarter. Frisch Financial Group Inc. lifted its stake in AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the period. Finally, First Citizens Financial Corp boosted its holdings in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $175.46 on Wednesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market cap of $310.06 billion, a PE ratio of 60.92, a P/E/G ratio of 1.92 and a beta of 0.58. The stock has a fifty day moving average price of $177.47 and a 200 day moving average price of $184.63. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ABBV shares. Citigroup reduced their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Barclays increased their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.50.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

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.