AbbVie Inc. (NYSE:ABBV) Holdings Lifted by Albion Financial Group UT

Albion Financial Group UT boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,999 shares of the company’s stock after buying an additional 1,266 shares during the quarter. Albion Financial Group UT’s holdings in AbbVie were worth $8,689,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ABBV. Merrion Investment Management Co LLC lifted its holdings in shares of AbbVie by 7.7% during the third quarter. Merrion Investment Management Co LLC now owns 7,000 shares of the company’s stock valued at $1,382,000 after purchasing an additional 500 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of AbbVie during the third quarter valued at $3,110,000. Keeler & Nadler Financial Planning & Wealth Management purchased a new stake in shares of AbbVie during the third quarter valued at $226,000. WealthBridge Investment Counsel Inc. lifted its holdings in shares of AbbVie by 0.5% during the third quarter. WealthBridge Investment Counsel Inc. now owns 36,746 shares of the company’s stock valued at $7,257,000 after purchasing an additional 195 shares during the last quarter. Finally, Modus Advisors LLC lifted its holdings in shares of AbbVie by 1.2% during the third quarter. Modus Advisors LLC now owns 24,108 shares of the company’s stock valued at $4,761,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday. Two equities research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $198.00.

AbbVie Stock Performance

Shares of ABBV stock opened at $194.31 on Friday. 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 Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The stock’s 50-day moving average is $193.89 and its two-hundred day moving average is $177.18. The firm has a market cap of $343.22 billion, a P/E ratio of 64.77, a PEG ratio of 2.66 and a beta of 0.63.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is 206.67%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. 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. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.