Horan Capital Advisors LLC. Sells 185 Shares of AbbVie Inc. (NYSE:ABBV)

Horan Capital Advisors LLC. reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,756 shares of the company’s stock after selling 185 shares during the quarter. Horan Capital Advisors LLC.’s holdings in AbbVie were worth $3,506,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of AbbVie in the first quarter valued at approximately $646,000. Quent Capital LLC increased its stake in AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares during the last quarter. Seven Eight Capital LP bought a new stake in AbbVie during the 1st quarter worth about $576,000. Evermay Wealth Management LLC boosted its stake in shares of AbbVie by 1.6% during the 1st quarter. Evermay Wealth Management LLC now owns 7,584 shares of the company’s stock worth $1,381,000 after buying an additional 118 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of AbbVie in the 1st quarter valued at about $582,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ABBV. Truist Financial increased their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday. They set an “outperform” rating and a $205.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.89.

AbbVie Stock Performance

ABBV opened at $166.26 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52-week low of $137.14 and a 52-week high of $207.32. The firm has a market cap of $293.80 billion, a P/E ratio of 57.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The business’s fifty day moving average is $191.44 and its 200-day moving average is $181.08.

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

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is currently 215.28%.

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.