First Business Financial Services Inc. Sells 371 Shares of AbbVie Inc. (NYSE:ABBV)

First Business Financial Services Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,994 shares of the company’s stock after selling 371 shares during the period. First Business Financial Services Inc.’s holdings in AbbVie were worth $1,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. bought a new position in shares of AbbVie during the 1st quarter worth about $646,000. Quent Capital LLC raised its position in AbbVie by 3.3% in the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares in the last quarter. M&G Plc acquired a new stake in AbbVie during the first quarter valued at approximately $41,807,000. Mizuho Markets Americas LLC raised its stake in AbbVie by 102.8% during the first quarter. Mizuho Markets Americas LLC now owns 62,695 shares of the company’s stock worth $11,417,000 after acquiring an additional 31,781 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC grew its holdings in shares of AbbVie by 21.0% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 22,932 shares of the company’s stock worth $4,176,000 after purchasing an additional 3,975 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.4 %

ABBV stock opened at $169.63 on Friday. The business’s fifty day moving average price is $193.08 and its two-hundred day moving average price is $180.84. AbbVie Inc. has a fifty-two week low of $136.30 and a fifty-two week high of $207.32. The stock has a market capitalization of $299.76 billion, a price-to-earnings ratio of 58.90, a PEG ratio of 2.07 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) 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. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.87%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 215.28%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ABBV shares. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday. They set an “outperform” rating and a $205.00 price target for the company. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Morgan Stanley decreased their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, UBS Group lifted their price target 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. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Company 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.