Lockerman Financial Group Inc. Sells 173 Shares of AbbVie Inc. (NYSE:ABBV)

Lockerman Financial Group Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,290 shares of the company’s stock after selling 173 shares during the period. Lockerman Financial Group Inc.’s holdings in AbbVie were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Scarborough Advisors LLC bought a new position in AbbVie in the fourth quarter worth $164,000. Wellington Management Group LLP raised its holdings in AbbVie by 128.5% in the fourth quarter. Wellington Management Group LLP now owns 954,374 shares of the company’s stock worth $147,899,000 after purchasing an additional 536,730 shares in the last quarter. Livelsberger Financial Advisory bought a new position in AbbVie in the fourth quarter worth $626,000. Fairman Group LLC bought a new position in AbbVie in the fourth quarter worth $77,000. Finally, HighPoint Advisor Group LLC bought a new position in AbbVie in the fourth quarter worth $27,290,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Morgan Stanley increased their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.00.

AbbVie Stock Performance

NYSE:ABBV traded down $3.79 on Tuesday, hitting $191.86. The stock had a trading volume of 6,424,698 shares, compared to its average volume of 5,302,177. The stock has a market cap of $338.80 billion, a price-to-earnings ratio of 58.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. 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 business’s 50-day simple moving average is $194.31 and its two-hundred day simple moving average is $177.47. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company earned $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. This trade represents 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.