AbbVie Inc. (NYSE:ABBV) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,914 shares of the company’s stock after selling 885 shares during the period. Fisher Asset Management LLC’s holdings in AbbVie were worth $7,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $27,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter worth about $39,000. Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $183.08 on Friday. 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 stock has a market capitalization of $323.53 billion, a P/E ratio of 63.57, a PEG ratio of 2.02 and a beta of 0.63. The company has a 50 day moving average price of $188.44 and a 200 day moving average price of $181.60. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.95 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.58%. 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 currently 215.28%.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. BMO Capital Markets cut their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $203.50.

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.