AbbVie Inc. (NYSE:ABBV) Shares Sold by MN Wealth Advisors LLC

MN Wealth Advisors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,770 shares of the company’s stock after selling 63 shares during the period. MN Wealth Advisors LLC’s holdings in AbbVie were worth $350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter worth $27,000. IFS Advisors LLC acquired a new position in AbbVie in the 1st quarter worth $36,000. Quest Partners LLC lifted its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares in the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new position in AbbVie in the 1st quarter worth $37,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $191.86 on Wednesday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week 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 company has a market cap of $338.80 billion, a PE ratio of 56.93, a P/E/G ratio of 2.66 and a beta of 0.63. The firm has a 50-day simple moving average of $194.44 and a 200 day simple moving average of $177.54.

AbbVie (NYSE:ABBV) last posted 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 firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analysts Set New Price Targets

A number of equities analysts have commented on ABBV shares. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Truist Financial upped their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley upped their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given 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 price target of $198.00.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

AbbVie Company 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.