AbbVie Inc. (NYSE:ABBV) Shares Sold by Schulhoff & Co. Inc.

by · The Markets Daily

Schulhoff & Co. Inc. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 27,818 shares of the company’s stock after selling 85 shares during the quarter. AbbVie makes up about 2.3% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its 9th largest position. Schulhoff & Co. Inc.’s holdings in AbbVie were worth $5,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of AbbVie during the 1st quarter worth about $646,000. Quent Capital LLC raised its holdings in AbbVie by 3.3% in the 1st quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares during the period. Brighton Jones LLC boosted its position in AbbVie by 14.2% during the first quarter. Brighton Jones LLC now owns 19,244 shares of the company’s stock worth $3,504,000 after purchasing an additional 2,387 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in AbbVie by 1.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 25,072 shares of the company’s stock valued at $4,566,000 after purchasing an additional 336 shares during the period. Finally, Gratus Wealth Advisors LLC increased its position in shares of AbbVie by 2.5% in the first quarter. Gratus Wealth Advisors LLC now owns 7,588 shares of the company’s stock valued at $1,382,000 after buying an additional 187 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABBV. 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 report on Friday, October 18th. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.83.

Check Out Our Latest Stock Analysis on ABBV

AbbVie Stock Performance

NYSE ABBV opened at $170.35 on Thursday. The stock has a market cap of $301.03 billion, a PE ratio of 59.19, a P/E/G ratio of 2.08 and a beta of 0.63. AbbVie Inc. has a twelve month low of $136.30 and a twelve month high of $207.32. The stock has a fifty day simple moving average of $193.08 and a 200-day simple moving average of $180.84. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. 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. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.85%. AbbVie’s 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.

Further Reading

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