Schneider Downs Wealth Management Advisors LP Purchases 190 Shares of AbbVie Inc. (NYSE:ABBV)

Schneider Downs Wealth Management Advisors LP increased its position in AbbVie Inc. (NYSE:ABBV) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,233 shares of the company’s stock after buying an additional 190 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in AbbVie were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV grew its holdings in AbbVie by 0.9% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 9,813 shares of the company’s stock valued at $1,105,000 after buying an additional 86 shares in the last quarter. Invst LLC increased its position in AbbVie by 0.9% in the second quarter. Invst LLC now owns 9,585 shares of the company’s stock worth $1,126,000 after purchasing an additional 88 shares during the last quarter. Samalin Investment Counsel LLC raised its stake in AbbVie by 0.9% during the second quarter. Samalin Investment Counsel LLC now owns 10,323 shares of the company’s stock valued at $1,163,000 after purchasing an additional 88 shares in the last quarter. Altfest L J & Co. Inc. grew its stake in shares of AbbVie by 0.5% in the 2nd quarter. Altfest L J & Co. Inc. now owns 18,871 shares of the company’s stock worth $2,126,000 after buying an additional 89 shares in the last quarter. Finally, MBE Wealth Management LLC increased its holdings in shares of AbbVie by 1.9% in the 2nd quarter. MBE Wealth Management LLC now owns 5,004 shares of the company’s stock worth $564,000 after buying an additional 92 shares during the last quarter. 65.86% of the stock is owned by institutional investors and hedge funds.

ABBV stock opened at $118.66 on Thursday. The stock’s 50 day moving average price is $111.61 and its 200 day moving average price is $113.90. The firm has a market cap of $209.69 billion, a P/E ratio of 28.25, a PEG ratio of 2.46 and a beta of 0.83. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.91 and a current ratio of 1.01. AbbVie Inc. has a 1 year low of $101.55 and a 1 year high of $121.53.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, October 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.11. The business had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $14.30 billion. AbbVie had a return on equity of 166.05% and a net margin of 13.66%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.83 earnings per share. On average, research analysts predict that AbbVie Inc. will post 12.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 14th will be paid a dividend of $1.41 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Thursday, January 13th. AbbVie’s dividend payout ratio (DPR) is currently 123.81%.

Several research analysts recently commented on the company. Truist Securities lifted their price target on AbbVie from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday. Cowen lifted their price target on shares of AbbVie from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 23rd. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Tuesday. SVB Leerink decreased their price objective on AbbVie from $142.00 to $135.00 and set an “outperform” rating for the company in a report on Monday, November 1st. Finally, Piper Sandler increased their target price on AbbVie from $124.00 to $129.00 and gave the company an “overweight” rating in a research report on Friday, October 29th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $129.58.

In other news, Director Roxanne S. Austin sold 51,844 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $116.38, for a total value of $6,033,604.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

About AbbVie

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

See Also: Call Option

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.