First Dallas Securities Inc. Sells 955 Shares of AbbVie Inc. (NYSE:ABBV)

First Dallas Securities Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,625 shares of the company’s stock after selling 955 shares during the quarter. AbbVie makes up about 1.5% of First Dallas Securities Inc.’s holdings, making the stock its 17th biggest holding. First Dallas Securities Inc.’s holdings in AbbVie were worth $3,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Maia Wealth LLC purchased a new position in AbbVie in the 2nd quarter worth approximately $474,000. ORG Partners LLC boosted its holdings in AbbVie by 1,452.5% in the second quarter. ORG Partners LLC now owns 22,076 shares of the company’s stock worth $3,764,000 after purchasing an additional 20,654 shares during the last quarter. GPS Wealth Strategies Group LLC raised its stake in AbbVie by 0.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 13,719 shares of the company’s stock valued at $2,353,000 after buying an additional 102 shares during the last quarter. Cascade Investment Group Inc. lifted its holdings in shares of AbbVie by 1.7% during the 2nd quarter. Cascade Investment Group Inc. now owns 7,142 shares of the company’s stock valued at $1,225,000 after buying an additional 116 shares during the period. Finally, Sky Investment Group LLC lifted its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 38,984 shares of the company’s stock valued at $6,686,000 after buying an additional 348 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.2 %

ABBV stock opened at $176.63 on Tuesday. The stock has a market capitalization of $312.12 billion, a PE ratio of 61.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.58. AbbVie Inc. has a 52 week low of $150.16 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 has a 50 day moving average of $186.35 and a 200 day moving average of $182.67.

AbbVie (NYSE:ABBV) last posted 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 business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 EPS. Sell-side analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business 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 yield of 3.71%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABBV. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. BMO Capital Markets lowered their price objective 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. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Five investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.38.

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.