OneDigital Investment Advisors LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

OneDigital Investment Advisors LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,073 shares of the company’s stock after selling 5,102 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in AbbVie were worth $10,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ABBV. Sargent Investment Group LLC increased its stake in AbbVie by 3.2% during the 3rd quarter. Sargent Investment Group LLC now owns 47,162 shares of the company’s stock valued at $9,314,000 after purchasing an additional 1,470 shares in the last quarter. Omnia Family Wealth LLC grew its holdings in shares of AbbVie by 8.4% during the third quarter. Omnia Family Wealth LLC now owns 4,091 shares of the company’s stock valued at $808,000 after buying an additional 317 shares during the last quarter. Lifeworks Advisors LLC increased its position in shares of AbbVie by 3.9% in the 3rd quarter. Lifeworks Advisors LLC now owns 33,698 shares of the company’s stock valued at $6,655,000 after acquiring an additional 1,269 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in AbbVie by 7.1% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 50,119 shares of the company’s stock worth $9,898,000 after acquiring an additional 3,304 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in AbbVie by 2.3% during the 3rd quarter. Metis Global Partners LLC now owns 97,498 shares of the company’s stock worth $19,254,000 after acquiring an additional 2,172 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.4 %

Shares of NYSE:ABBV opened at $169.63 on Friday. AbbVie Inc. has a twelve month low of $136.30 and a twelve month high of $207.32. The company has a market capitalization of $299.76 billion, a PE ratio of 58.90, a P/E/G 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. The firm has a 50 day simple moving average of $193.08 and a 200-day simple moving average of $180.84.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $2.95 EPS. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict 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. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. TD Cowen lifted their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Citigroup reduced their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.