Menard Financial Group LLC Sells 186 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Menard Financial Group LLC reduced its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 6,268 shares of the company’s stock after selling 186 shares during the period. AbbVie makes up 0.8% of Menard Financial Group LLC’s holdings, making the stock its 27th biggest holding. Menard Financial Group LLC’s holdings in AbbVie were worth $1,238,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc raised its position in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the period. FMR LLC increased its stake in AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after buying an additional 582,953 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after buying an additional 373,802 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of AbbVie by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after acquiring an additional 623,569 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Finally, BMO Capital Markets cut their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

Read Our Latest Stock Analysis on AbbVie

AbbVie Stock Performance

NYSE:ABBV opened at $181.50 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a 50 day simple moving average of $187.74 and a 200 day simple moving average of $182.25. AbbVie Inc. has a 1-year low of $142.66 and a 1-year high of $207.32. The stock has a market cap of $320.74 billion, a P/E ratio of 63.02, a PEG ratio of 2.08 and a beta of 0.58.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly 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. The business had revenue of $14.46 billion for 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 for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $2.95 earnings per share. Research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is 227.78%.

AbbVie Company 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.

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