Parthenon LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Parthenon LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,488 shares of the company’s stock after selling 200 shares during the period. Parthenon LLC’s holdings in AbbVie were worth $4,638,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Fairway Wealth LLC bought a new position in AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Marquette Asset Management LLC bought a new stake in AbbVie in the third quarter valued at approximately $39,000. Finally, Burkett Financial Services LLC raised its holdings in AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after purchasing an additional 82 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.2 %

Shares of NYSE:ABBV traded up $0.31 during midday trading on Wednesday, reaching $171.40. The company had a trading volume of 1,955,827 shares, compared to its average volume of 5,399,431. The business’s 50 day moving average price is $194.14 and its 200 day moving average price is $180.83. AbbVie Inc. has a 1-year low of $136.30 and a 1-year 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 stock has a market cap of $302.89 billion, a PE ratio of 59.49, a P/E/G ratio of 2.12 and a beta of 0.63.

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

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. TD Cowen boosted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets decreased their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Bank of America raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.83.

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.