Shoker Investment Counsel Inc. Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Shoker Investment Counsel Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,392 shares of the company’s stock after selling 647 shares during the quarter. AbbVie comprises about 1.6% of Shoker Investment Counsel Inc.’s portfolio, making the stock its 14th biggest holding. Shoker Investment Counsel Inc.’s holdings in AbbVie were worth $4,620,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GGM Financials LLC boosted its position 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 buying an additional 50 shares during the period. Pine Haven Investment Counsel Inc boosted its position in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after acquiring an additional 52 shares during the period. Frisch Financial Group Inc. grew its stake in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares in the last quarter. First Citizens Financial Corp increased its holdings in shares of AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares during the period. Finally, Sunflower Bank N.A. raised its stake 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 purchasing an additional 53 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABBV shares. Wells Fargo & Company increased their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets lifted their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four research 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. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Price Performance

NYSE ABBV opened at $199.57 on Friday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The stock’s 50-day moving average price is $194.58 and its two-hundred day moving average price is $180.61. The company has a market cap of $352.67 billion, a PE ratio of 69.30, a PEG ratio of 2.51 and a beta of 0.63. 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) 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 226.99%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

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.