Chartwell Investment Partners LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,490 shares of the company's stock after selling 9,238 shares during the quarter. AbbVie comprises 0.8% of Chartwell Investment Partners LLC's investment portfolio, making the stock its 16th largest holding. Chartwell Investment Partners LLC's holdings in AbbVie were worth $23,005,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. GGM Financials LLC increased its position in shares of AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock worth $1,362,000 after purchasing an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock worth $3,575,000 after buying an additional 52 shares in the last quarter. Frisch Financial Group Inc. raised its stake in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company's stock valued at $1,187,000 after acquiring an additional 53 shares during the last quarter. First Citizens Financial Corp boosted its holdings in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock worth $1,141,000 after acquiring an additional 53 shares in the last quarter. Finally, Sunflower Bank N.A. grew its position in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock worth $2,710,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Shares of NYSE ABBV opened at $199.50 on Monday. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The stock has a market cap of $352.54 billion, a price-to-earnings ratio of 69.27, a P/E/G ratio of 2.46 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company's fifty day moving average is $194.58 and its 200-day moving average is $180.69.
AbbVie (NYSE:ABBV - Get Free Report) last posted its 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 company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 earnings per share. Equities research analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.29%. AbbVie's dividend payout ratio is currently 215.28%.
Several equities research analysts have weighed in on ABBV shares. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a "market perform" rating and a $203.00 target price for the company. Truist Financial boosted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on AbbVie from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $205.82.
Check Out Our Latest Research Report on ABBV
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.
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