AbbVie Inc. (NYSE:ABBV) Stake Raised by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,672 shares of the company’s stock after buying an additional 867 shares during the quarter. Waldron Private Wealth LLC’s holdings in AbbVie were worth $6,649,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the second quarter valued at $27,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $39,000. Redmont Wealth Advisors LLC purchased a new position in AbbVie in the 1st quarter worth about $37,000. Finally, Quest Partners LLC lifted its stake in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABBV. Morgan Stanley increased their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. BMO Capital Markets upped their price objective on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen boosted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Finally, UBS Group boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

Insider Activity at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.0 %

NYSE ABBV traded up $1.91 during trading hours on Tuesday, hitting $188.45. The company’s stock had a trading volume of 1,315,113 shares, compared to its average volume of 5,277,826. The stock has a fifty day moving average of $194.37 and a 200 day moving average of $177.88. 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 Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The firm has a market capitalization of $332.78 billion, a P/E ratio of 55.33, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The company had revenue of $14.46 billion for 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 firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.91 EPS. Equities research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared 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. 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 3.29%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.