AbbVie Inc. (NYSE:ABBV) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 247,046 shares of the company’s stock after buying an additional 2,720 shares during the period. Whittier Trust Co.’s holdings in AbbVie were worth $48,786,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in shares of AbbVie during the 3rd quarter worth $208,000. Berry Wealth Group LP increased its stake in AbbVie by 2.7% in the third quarter. Berry Wealth Group LP now owns 2,448 shares of the company’s stock valued at $483,000 after purchasing an additional 64 shares during the last quarter. Bellecapital International Ltd. lifted its position in AbbVie by 0.4% during the third quarter. Bellecapital International Ltd. now owns 57,938 shares of the company’s stock worth $11,442,000 after buying an additional 220 shares during the period. Koss Olinger Consulting LLC boosted its stake in AbbVie by 18.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 2,566 shares of the company’s stock worth $507,000 after buying an additional 400 shares during the last quarter. Finally, Violich Capital Management Inc. grew its holdings in AbbVie by 0.7% in the 3rd quarter. Violich Capital Management Inc. now owns 117,261 shares of the company’s stock valued at $23,157,000 after buying an additional 775 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. UBS Group boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday. They issued a “market perform” rating and a $203.00 price target for the company. Barclays raised 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. Finally, Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday. Four 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’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $198.47.

AbbVie Trading Down 1.1 %

Shares of NYSE ABBV traded down $2.06 during mid-day trading on Monday, hitting $186.80. 2,510,872 shares of the company traded hands, compared to its average volume of 5,287,566. The business has a 50 day moving average of $194.44 and a two-hundred day moving average of $177.74. The stock has a market capitalization of $329.86 billion, a price-to-earnings ratio of 55.78, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its earnings results 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 net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the company posted $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.32%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.