United Capital Management of KS Inc. Sells 3,962 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

United Capital Management of KS Inc. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,550 shares of the company’s stock after selling 3,962 shares during the period. United Capital Management of KS Inc.’s holdings in AbbVie were worth $4,848,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in AbbVie during the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the second quarter valued at approximately $27,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. Quest Partners LLC grew 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 worth $36,000 after purchasing an additional 207 shares during the last quarter. Finally, Burkett Financial Services LLC increased its stake in shares of AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Truist Financial raised their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Bank of America lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.82.

View Our Latest Stock Report on ABBV

AbbVie Trading Down 0.5 %

AbbVie stock opened at $199.50 on Monday. AbbVie Inc. has a one year low of $135.85 and a one year high of $207.32. The business’s fifty day moving average is $194.58 and its 200 day moving average is $180.78. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.71. The stock has a market capitalization of $352.54 billion, a PE ratio of 69.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.63.

AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 215.28%.

AbbVie Profile

(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.

See Also

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).