Sittner & Nelson LLC Sells 475 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Sittner & Nelson LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 20.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,899 shares of the company’s stock after selling 475 shares during the quarter. Sittner & Nelson LLC’s holdings in AbbVie were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Retirement Income Solutions Inc bought a new stake in shares of AbbVie during the first quarter worth $204,000. Ergoteles LLC grew its stake in shares of AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after purchasing an additional 847 shares during the period. First Western Trust Bank acquired a new stake in shares of AbbVie during the first quarter worth $1,150,000. Wsfs Capital Management LLC acquired a new stake in shares of AbbVie during the first quarter worth $562,000. Finally, Bridgewater Associates LP grew its stake in shares of AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares during the period. Institutional investors own 67.86% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft began coverage on AbbVie in a research note on Thursday, November 9th. They set a “hold” rating and a $150.00 price objective for the company. Morgan Stanley boosted their target price on AbbVie from $193.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research note on Monday, August 28th. StockNews.com started coverage on AbbVie in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, Barclays raised AbbVie from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $160.00 to $170.00 in a research report on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.94.

Read Our Latest Stock Analysis on ABBV

AbbVie Stock Performance

Shares of ABBV traded up $1.24 during mid-day trading on Monday, reaching $144.65. The company’s stock had a trading volume of 1,512,230 shares, compared to its average volume of 5,483,136. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $168.11. The stock has a market cap of $255.39 billion, a P/E ratio of 39.29, a PEG ratio of 2.55 and a beta of 0.48. The business has a 50-day simple moving average of $144.01 and a two-hundred day simple moving average of $143.46. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 4.59.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.09. AbbVie had a return on equity of 152.70% and a net margin of 11.81%. The company had revenue of $13.93 billion during the quarter, compared to analysts’ expectations of $13.72 billion. During the same period last year, the firm posted $3.66 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.24 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be issued a dividend of $1.55 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.48. This represents a $6.20 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Friday, January 12th. AbbVie’s dividend payout ratio (DPR) is presently 162.19%.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

See Also

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