AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Compass Wealth Management LLC

Compass Wealth Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 28,123 shares of the company’s stock after selling 1,211 shares during the period. AbbVie accounts for 1.3% of Compass Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Compass Wealth Management LLC’s holdings in AbbVie were worth $5,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the second quarter valued at $27,000. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Redmont Wealth Advisors LLC purchased a new position in AbbVie in the 1st quarter worth about $37,000. Finally, Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter worth about $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 1.0 %

AbbVie stock opened at $188.57 on Friday. The firm has a market cap of $332.99 billion, a price-to-earnings ratio of 55.96, a P/E/G ratio of 2.66 and a beta of 0.63. The firm has a fifty day moving average price of $194.46 and a two-hundred day moving average price of $177.70. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

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

AbbVie Announces Dividend

The company also recently disclosed 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley raised their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. UBS Group lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday. They set a “market perform” rating and a $203.00 target price on the stock. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Three equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.69.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Profile

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.