Fi3 FINANCIAL ADVISORS LLC Sells 59 Shares of AbbVie Inc. (NYSE:ABBV)

Fi3 FINANCIAL ADVISORS LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,103 shares of the company’s stock after selling 59 shares during the period. Fi3 FINANCIAL ADVISORS LLC’s holdings in AbbVie were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC lifted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Abound Financial LLC acquired a new position in AbbVie in the 1st quarter valued at $30,000. Siemens Fonds Invest GmbH raised its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in AbbVie in the 1st quarter valued at $35,000. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.7%

Shares of ABBV opened at $198.53 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock’s 50-day moving average price is $188.86 and its 200 day moving average price is $190.65. The firm has a market capitalization of $350.68 billion, a price-to-earnings ratio of 94.54, a P/E/G ratio of 1.26 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Citigroup increased their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Bank of America increased their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Morgan Stanley raised their target price on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.81.

AbbVie Profile

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.