Stifel Financial Corp Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Stifel Financial Corp trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,501,666 shares of the company's stock after selling 28,036 shares during the period. Stifel Financial Corp owned 0.14% of AbbVie worth $494,035,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. GGM Financials LLC lifted its stake in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock worth $1,362,000 after purchasing an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc lifted its stake in shares of AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock valued at $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. boosted its holdings in AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after acquiring an additional 52 shares during the period. Frisch Financial Group Inc. grew its position in AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company's stock worth $1,187,000 after acquiring an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp increased its stake in 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 purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

ABBV traded down $0.24 during mid-day trading on Thursday, reaching $176.22. 5,437,682 shares of the company traded hands, compared to its average volume of 5,531,533. The stock has a market capitalization of $311.41 billion, a P/E ratio of 61.10, a P/E/G ratio of 2.08 and a beta of 0.58. AbbVie Inc. has a 52-week low of $144.73 and a 52-week 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 company's fifty day moving average price is $187.45 and its 200-day moving average price is $182.21.

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, beating analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same quarter in the prior year, the company earned $2.95 earnings per share. AbbVie's revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.72%. AbbVie's dividend payout ratio (DPR) is presently 215.28%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ABBV. BMO Capital Markets lowered their price target on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Bank of America boosted their price target on AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $202.38.

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.