One Plus One Wealth Management LLC Sells 187 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

One Plus One Wealth Management LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 11.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,494 shares of the company’s stock after selling 187 shares during the period. One Plus One Wealth Management LLC’s holdings in AbbVie were worth $295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank lifted its holdings in shares of AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares in the last quarter. PGGM Investments boosted its holdings in shares of AbbVie by 308.1% in the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares during the period. Foresight Capital Management Advisors Inc. acquired a new stake in shares of AbbVie during the second quarter worth $1,349,000. Sumitomo Life Insurance Co. lifted its position in AbbVie by 29.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock valued at $5,333,000 after acquiring an additional 6,161 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC increased its holdings in AbbVie by 109.1% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock worth $1,249,000 after purchasing an additional 3,301 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets raised their price target on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company raised their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Read Our Latest Stock Analysis on ABBV

AbbVie Stock Performance

NYSE ABBV opened at $201.69 on Wednesday. The stock has a market cap of $356.25 billion, a PE ratio of 70.03, a P/E/G ratio of 2.54 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a 50-day moving average of $194.29 and a 200-day moving average of $180.10. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data 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 226.99%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

About AbbVie

(Free Report)

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.

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