Lindenwold Advisors INC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Lindenwold Advisors INC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 12.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,324 shares of the company’s stock after selling 2,362 shares during the quarter. AbbVie makes up about 1.3% of Lindenwold Advisors INC’s holdings, making the stock its 21st largest position. Lindenwold Advisors INC’s holdings in AbbVie were worth $2,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Kalos Management Inc. purchased a new stake in AbbVie in the first quarter valued at $26,000. Miller Wealth Advisors LLC lifted its holdings in shares of AbbVie by 140.0% in the 2nd quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at about $37,000. Sanctuary Wealth Management L.L.C. purchased a new position in AbbVie during the 2nd quarter worth approximately $39,000. Finally, True Wealth Design LLC acquired a new position in AbbVie during the fourth quarter worth approximately $39,000. 67.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of AbbVie from $157.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. Barclays upgraded shares of AbbVie from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $160.00 to $170.00 in a research note on Monday, October 30th. Piper Sandler Companies increased their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. HSBC assumed coverage on AbbVie in a research report on Friday, July 14th. They issued a “buy” rating and a $167.00 price target on the stock. Finally, William Blair began coverage on AbbVie in a research note on Tuesday, July 25th. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.06.

AbbVie Stock Down 0.1 %

ABBV stock opened at $141.24 on Tuesday. The company has a debt-to-equity ratio of 4.33, a current ratio of 0.89 and a quick ratio of 0.77. The company’s 50 day simple moving average is $148.13 and its 200-day simple moving average is $145.04. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $168.11. The firm has a market capitalization of $249.30 billion, a PE ratio of 38.70, a P/E/G ratio of 2.52 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.09. The business had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.72 billion. AbbVie had a return on equity of 146.47% and a net margin of 11.81%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.66 earnings per share. Equities analysts expect that AbbVie Inc. will post 11.24 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, January 12th. This is a positive change from AbbVie’s previous quarterly dividend of $1.48. AbbVie’s payout ratio is currently 162.19%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.