AbbVie Inc. (NYSE:ABBV) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 27.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,972 shares of the company’s stock after selling 3,090 shares during the period. Gold Investment Management Ltd.’s holdings in AbbVie were worth $1,562,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC purchased a new stake in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie in the 2nd quarter valued at about $27,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter worth about $39,000. Finally, Burkett Financial Services LLC raised its position in AbbVie by 61.2% in the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Guggenheim boosted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Finally, UBS Group boosted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.72.

AbbVie Trading Up 0.2 %

ABBV traded up $0.44 during trading on Friday, hitting $200.95. The company’s stock had a trading volume of 180,698 shares, compared to its average volume of 5,301,241. The firm’s 50 day moving average price is $194.41 and its 200-day moving average price is $180.25. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $207.32. The stock has a market cap of $354.95 billion, a PE ratio of 69.60, a PEG ratio of 2.51 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. AbbVie’s dividend payout ratio is presently 215.28%.

About AbbVie

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.