Falcon Wealth Planning Has $473,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Falcon Wealth Planning trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 18.7% during the third quarter, Holdings Channel.com reports. The firm owned 2,393 shares of the company’s stock after selling 551 shares during the period. Falcon Wealth Planning’s holdings in AbbVie were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Pine Haven Investment Counsel Inc boosted its holdings in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares during the last quarter. Frisch Financial Group Inc. lifted its position in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares in the last quarter. First Citizens Financial Corp grew its holdings in shares of AbbVie by 0.9% in the third 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 in the last quarter. Sunflower Bank N.A. increased its position in shares of AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after acquiring an additional 53 shares during the last quarter. Finally, Professional Financial Advisors LLC lifted its holdings in AbbVie by 3.4% during the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $0.99 during mid-day trading on Tuesday, reaching $199.48. 406,537 shares of the stock traded hands, compared to its average volume of 5,297,996. The company has a market cap of $352.35 billion, a price-to-earnings ratio of 69.61, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The firm has a fifty day moving average price of $194.18 and a 200 day moving average price of $179.85. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.95 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. UBS Group upped their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.00.

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.