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Stanley Laman Group Ltd. reduced its stake in AbbVie Inc by 92.5% in the third quarter, holding 2,070 shares valued at $309,000. Several other institutional investors have also made changes to their holdings in the company. Brokers have recently weighed in on ABBV. Raymond James increased AbbVie’s target price to $181 and rated the company as “outperform.” AbbVie’s stock opened at $154.94 and the company last reported quarterly earnings with $2.95 per share, beating the consensus estimate. AbbVie also announced an increased quarterly dividend of $1.55 per share. The company now has a “hold” rating among analysts but is not listed among the top five buys.

AbbVie Inc. is a global pharmaceutical company offering a range of therapies including Humira, Skyrizi, Rinvoq, Imbruvica, and Venclexta/Venclyxto. The company has a market capitalization of $273.55 billion with a price-to-earnings ratio of 42.45 and a beta of 0.48. AbbVie’s revenue was down 6.0% on a year-over-year basis. The company’s stock currently has a consensus rating of “Moderate Buy” with an average target price of $167.59.

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Read more: AbbVie Inc. (NYSE:ABBV) Stake Trimmed by Stanley Laman Group Ltd.