CHICAGO TRUST Co NA Acquires 2,199 Shares of AbbVie Inc. (NYSE:ABBV)

CHICAGO TRUST Co NA raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,732 shares of the company’s stock after buying an additional 2,199 shares during the quarter. AbbVie accounts for 2.2% of CHICAGO TRUST Co NA’s investment portfolio, making the stock its 6th largest holding. CHICAGO TRUST Co NA’s holdings in AbbVie were worth $12,586,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the second quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter worth approximately $27,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the first quarter worth approximately $36,000. Finally, Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.1 %

Shares of NYSE ABBV opened at $194.19 on Friday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The business has a 50-day simple moving average of $194.08 and a two-hundred day simple moving average of $177.39. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market cap of $342.91 billion, a P/E ratio of 57.62, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $2.91 EPS. Research analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Barclays upped their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company upped their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, UBS Group upped their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.00.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.