Symphony Financial Ltd. Co. Acquires 493 Shares of AbbVie Inc. (NYSE:ABBV)

Symphony Financial Ltd. Co. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% during the third quarter, HoldingsChannel reports. The fund owned 13,480 shares of the company’s stock after purchasing an additional 493 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in AbbVie were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in shares of AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at about $27,000. Quest Partners LLC increased its position in shares of AbbVie by 4,140.0% in 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 last quarter. Redmont Wealth Advisors LLC purchased a new stake in AbbVie in the first quarter valued at approximately $37,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at approximately $39,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.2 %

Shares of NYSE:ABBV traded up $2.22 on Tuesday, hitting $188.76. The company had a trading volume of 3,548,360 shares, compared to its average volume of 5,288,773. 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. The firm’s 50-day simple moving average is $194.37 and its two-hundred day simple moving average is $177.88. The firm has a market capitalization of $333.33 billion, a price-to-earnings ratio of 55.33, a P/E/G ratio of 2.66 and a beta of 0.63.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Analysts Set New Price Targets

ABBV has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Truist Financial lifted their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Sandler upped their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Finally, UBS Group boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

Insider Buying and Selling at AbbVie

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 value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.