STAR Financial Bank Sells 1,092 Shares of AbbVie Inc. (NYSE:ABBV)

STAR Financial Bank trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 16.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,359 shares of the company’s stock after selling 1,092 shares during the quarter. STAR Financial Bank’s holdings in AbbVie were worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of AbbVie by 19.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 878,900 shares of the company’s stock valued at $173,565,000 after purchasing an additional 140,368 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of AbbVie by 1.9% in the third quarter. Cornerstone Advisors LLC now owns 81,600 shares of the company’s stock worth $16,114,000 after acquiring an additional 1,500 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of AbbVie by 4.3% in the third quarter. Citizens Financial Group Inc. RI now owns 99,228 shares of the company’s stock worth $19,596,000 after acquiring an additional 4,074 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of AbbVie by 12.0% in the third quarter. EverSource Wealth Advisors LLC now owns 9,699 shares of the company’s stock worth $1,915,000 after acquiring an additional 1,037 shares during the period. Finally, Altman Advisors Inc. grew its holdings in shares of AbbVie by 31.0% in the third quarter. Altman Advisors Inc. now owns 14,892 shares of the company’s stock worth $2,941,000 after acquiring an additional 3,523 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Barclays lifted 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. Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Citigroup lowered their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.37.

AbbVie Trading Up 0.7 %

ABBV stock opened at $167.74 on Thursday. 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 Inc. has a 12-month low of $137.65 and a 12-month high of $207.32. The stock has a market cap of $296.42 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.01 and a beta of 0.63. The business’s 50-day moving average is $190.25 and its 200 day moving average is $181.01.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

AbbVie Company 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.