AbbVie Inc. (NYSE:ABBV) Shares Sold by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,394 shares of the company’s stock after selling 109 shares during the quarter. Global X Japan Co. Ltd.’s holdings in AbbVie were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Fairway Wealth LLC acquired a new stake in AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie in the second quarter valued at $27,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter valued at $39,000. Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the 1st quarter worth about $37,000. Finally, Quest Partners LLC raised its stake in 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 last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 sale, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2 %

Shares of NYSE ABBV opened at $188.78 on Wednesday. The stock has a fifty day moving average price of $194.32 and a 200 day moving average price of $178.01. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a market cap of $333.36 billion, a P/E ratio of 56.02, a P/E/G ratio of 2.66 and a beta of 0.63.

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

AbbVie Dividend Announcement

The company 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 dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.28%. AbbVie’s payout ratio is currently 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Wells Fargo & Company raised their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets raised their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.47.

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.