Heritage Wealth Management Inc. Sells 143 Shares of AbbVie Inc. (NYSE:ABBV)

Heritage Wealth Management Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,278 shares of the company’s stock after selling 143 shares during the period. AbbVie makes up 1.6% of Heritage Wealth Management Inc.’s holdings, making the stock its 9th biggest holding. Heritage Wealth Management Inc.’s holdings in AbbVie were worth $4,794,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GGM Financials LLC grew its stake in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. grew its holdings in AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares in the last quarter. First Citizens Financial Corp increased its position in AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after acquiring an additional 53 shares during the period. Finally, Sunflower Bank N.A. raised its stake in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after acquiring an additional 53 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.2 %

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

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. The firm 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 226.99%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. On average, research analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The company 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 of this dividend 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%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ABBV shares. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets upped their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Citigroup lifted their target price on shares of AbbVie from $215.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.72.

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.