Aviso Wealth Management Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Aviso Wealth Management cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,656 shares of the company’s stock after selling 569 shares during the quarter. AbbVie makes up approximately 1.1% of Aviso Wealth Management’s holdings, making the stock its 21st biggest holding. Aviso Wealth Management’s holdings in AbbVie were worth $2,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABBV. International Assets Investment Management LLC boosted its stake in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after acquiring an additional 4,471,806 shares in the last quarter. Capital World Investors boosted its stake in AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Capital International Investors boosted its stake in AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Swedbank AB acquired a new stake in shares of AbbVie during the first quarter worth $367,372,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of AbbVie by 13.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock worth $1,956,518,000 after buying an additional 1,291,201 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $164.99 on Monday. AbbVie Inc. has a twelve month low of $137.05 and a twelve month high of $207.32. The firm’s fifty day simple moving average is $192.04 and its 200-day simple moving average is $181.04. The firm has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 2.01 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.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the business earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed 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 represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABBV shares. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays lifted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Wolfe Research started coverage on shares of AbbVie in a report on Friday. They set an “outperform” rating and a $205.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Three equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.89.

AbbVie 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.