Trifecta Capital Advisors LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Trifecta Capital Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,983 shares of the company’s stock after buying an additional 148 shares during the period. AbbVie comprises approximately 1.2% of Trifecta Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Trifecta Capital Advisors LLC’s holdings in AbbVie were worth $5,921,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of AbbVie by 128.5% during the fourth quarter. Wellington Management Group LLP now owns 954,374 shares of the company’s stock worth $147,899,000 after buying an additional 536,730 shares in the last quarter. Signal Advisors Wealth LLC purchased a new stake in AbbVie during the 1st quarter valued at about $332,000. Bruce G. Allen Investments LLC raised its holdings in AbbVie by 9.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 2,749 shares of the company’s stock valued at $501,000 after acquiring an additional 241 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in AbbVie by 18.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 52,244 shares of the company’s stock worth $9,513,000 after purchasing an additional 8,122 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in shares of AbbVie by 4.8% during the 1st quarter. Wedmont Private Capital now owns 18,496 shares of the company’s stock worth $3,147,000 after purchasing an additional 851 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $188.57 on Friday. The company has a market cap of $332.99 billion, a P/E ratio of 55.96, a PEG ratio of 2.66 and a beta of 0.63. 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 firm’s 50 day moving average price is $194.46 and its 200 day moving average price is $177.70.

AbbVie (NYSE:ABBV) last released 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. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the business posted $2.91 earnings per share. AbbVie’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. AbbVie’s payout ratio is 183.98%.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. 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, October 7th. Truist Financial raised their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley increased their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Three 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.69.

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.