Cravens & Co Advisors LLC Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Cravens & Co Advisors LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 29.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,862 shares of the company’s stock after selling 2,041 shares during the quarter. Cravens & Co Advisors LLC’s holdings in AbbVie were worth $960,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GGM Financials LLC raised its position in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares during the period. Pine Haven Investment Counsel Inc raised its position in AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. raised its position in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. raised its position in 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 purchasing an additional 53 shares during the period. Finally, First Citizens Financial Corp raised its position in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $181.16 on Wednesday. AbbVie Inc. has a 12 month low of $137.65 and a 12 month high of $207.32. The stock has a market cap of $320.14 billion, a price-to-earnings ratio of 62.90, a PEG ratio of 2.02 and a beta of 0.63. The stock’s 50 day moving average price is $188.85 and its 200 day moving average price is $181.58. 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 announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS 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 analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current fiscal 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. This is a positive change 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 yield of 3.62%. AbbVie’s payout ratio is 215.28%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABBV shares. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets decreased their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Three equities research 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 company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $203.50.

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.