First Heartland Consultants Inc. Sells 655 Shares of AbbVie Inc. (NYSE:ABBV)

First Heartland Consultants Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,342 shares of the company’s stock after selling 655 shares during the period. First Heartland Consultants Inc.’s holdings in AbbVie were worth $1,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the second quarter valued at about $27,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter valued at about $39,000. Quest Partners LLC grew its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC increased its stake in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares during the period. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. BMO Capital Markets upped 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. Finally, Morgan Stanley lowered their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday. Three equities 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.41.

AbbVie Stock Up 0.5 %

NYSE:ABBV traded up $0.91 on Tuesday, hitting $175.34. The stock had a trading volume of 2,577,139 shares, compared to its average volume of 5,378,220. AbbVie Inc. has a 1 year low of $136.30 and a 1 year high of $207.32. The firm’s fifty day simple moving average is $194.14 and its two-hundred day simple moving average is $180.83. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.71 and a current ratio of 0.65. The stock has a market cap of $309.85 billion, a P/E ratio of 60.87, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its 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. The firm had revenue of $14.46 billion during 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $2.95 earnings per share. Analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business 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 positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis 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 presently 227.78%.

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.