SageView Advisory Group LLC Has $2.49 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

SageView Advisory Group LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 31.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,603 shares of the company's stock after selling 5,862 shares during the period. SageView Advisory Group LLC's holdings in AbbVie were worth $2,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter worth $28,000. Quest Partners LLC lifted its holdings in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company's stock valued at $36,000 after buying an additional 207 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in AbbVie during the third quarter worth about $39,000. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Argus raised AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Truist Financial raised their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Finally, Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price target on the stock. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $202.38.

AbbVie Price Performance

Shares of AbbVie stock traded down $0.15 during midday trading on Thursday, reaching $176.31. The company had a trading volume of 3,621,072 shares, compared to its average volume of 5,522,484. The stock has a fifty day simple moving average of $187.45 and a 200 day simple moving average of $182.21. The company has a market capitalization of $311.56 billion, a price-to-earnings ratio of 61.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.58. AbbVie Inc. has a 1-year low of $144.73 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The business 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 firm's revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $2.95 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's payout ratio is 215.28%.

About AbbVie

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.