Grandfield & Dodd LLC Sells 300 Shares of AbbVie Inc. (NYSE:ABBV)

Grandfield & Dodd LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,532 shares of the company’s stock after selling 300 shares during the period. Grandfield & Dodd LLC’s holdings in AbbVie were worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in AbbVie during the 1st quarter worth about $646,000. Quent Capital LLC lifted its position in shares of AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares during the period. Seven Eight Capital LP bought a new position in shares of AbbVie during the first quarter valued at approximately $576,000. EP Wealth Advisors LLC increased its holdings in AbbVie by 4.0% during the first quarter. EP Wealth Advisors LLC now owns 88,610 shares of the company’s stock valued at $16,136,000 after buying an additional 3,439 shares during the period. Finally, Rodgers Brothers Inc. raised its stake in AbbVie by 3.7% in the first quarter. Rodgers Brothers Inc. now owns 134,163 shares of the company’s stock worth $24,431,000 after buying an additional 4,816 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ABBV. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Morgan Stanley reduced their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.37.

AbbVie Stock Up 0.2 %

AbbVie stock opened at $166.58 on Wednesday. The business’s 50-day simple moving average is $190.79 and its two-hundred day simple moving average is $181.10. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $294.37 billion, a PE ratio of 57.84, a PEG ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $137.14 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.94%. 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 215.28%.

About AbbVie

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.