AbbVie Inc. (NYSE:ABBV) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 0.8% in the third quarter, Holdings Channel reports. The firm owned 23,430 shares of the company’s stock after selling 182 shares during the period. Tradition Wealth Management LLC’s holdings in AbbVie were worth $4,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Bank & Trust Co purchased a new position in AbbVie during the 2nd quarter worth approximately $1,016,000. BancFirst Trust & Investment Management raised its position in AbbVie by 21.9% during the 2nd quarter. BancFirst Trust & Investment Management now owns 4,062 shares of the company’s stock worth $686,000 after buying an additional 729 shares during the last quarter. Trust Co. of Toledo NA OH raised its position in AbbVie by 2.3% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 41,851 shares of the company’s stock worth $7,178,000 after buying an additional 931 shares during the last quarter. RVW Wealth LLC raised its position in AbbVie by 2.0% during the 2nd quarter. RVW Wealth LLC now owns 5,213 shares of the company’s stock worth $894,000 after buying an additional 100 shares during the last quarter. Finally, Great Waters Wealth Management purchased a new position in AbbVie during the 2nd quarter worth approximately $217,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.1 %

Shares of ABBV opened at $182.93 on Friday. AbbVie Inc. has a 52-week low of $138.01 and a 52-week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm’s fifty day moving average is $188.23 and its two-hundred day moving average is $181.89. The stock has a market cap of $323.26 billion, a PE ratio of 63.52, a price-to-earnings-growth ratio of 2.09 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 EPS. Research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.59%. AbbVie’s payout ratio is presently 227.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Truist Financial raised their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Guggenheim lifted their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

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.