Bennicas & Associates Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,058 shares of the company’s stock after selling 217 shares during the period. AbbVie comprises 2.4% of Bennicas & Associates Inc.’s holdings, making the stock its 8th biggest holding. Bennicas & Associates Inc.’s holdings in AbbVie were worth $3,859,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Element Wealth LLC boosted its holdings in shares of AbbVie by 5.7% in the second quarter. Element Wealth LLC now owns 5,524 shares of the company’s stock worth $542,000 after buying an additional 296 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings in shares of AbbVie by 7.0% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,948 shares of the company’s stock worth $289,000 after purchasing an additional 193 shares during the period. Wesbanco Bank Inc. boosted its holdings in shares of AbbVie by 72.8% during the second quarter. Wesbanco Bank Inc. now owns 128,245 shares of the company’s stock worth $12,591,000 after purchasing an additional 54,010 shares during the period. Banco Santander S.A. boosted its holdings in shares of AbbVie by 664.9% during the second quarter. Banco Santander S.A. now owns 118,133 shares of the company’s stock worth $11,599,000 after purchasing an additional 102,689 shares during the period. Finally, Laidlaw Wealth Management LLC boosted its holdings in shares of AbbVie by 74.7% during the second quarter. Laidlaw Wealth Management LLC now owns 7,671 shares of the company’s stock worth $753,000 after purchasing an additional 3,280 shares during the period. 68.23% of the stock is currently owned by institutional investors.

ABBV has been the subject of several research reports. Morgan Stanley raised their price target on shares of AbbVie from $95.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Mizuho restated a “buy” rating and set a $111.00 price target on shares of AbbVie in a report on Sunday, September 27th. Citigroup raised their price target on shares of AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Royal Bank of Canada lifted their target price on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $108.63.

NYSE:ABBV opened at $86.27 on Friday. AbbVie Inc. has a 12 month low of $62.55 and a 12 month high of $101.28. The firm has a market cap of $152.25 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. The company’s 50 day moving average is $89.38 and its 200-day moving average is $90.44.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 31st. The company reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.14. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The company had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.26 earnings per share. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 10.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s dividend payout ratio (DPR) is currently 52.80%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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