MFA Wealth Advisors LLC Sells 150 Shares of AbbVie Inc. (NYSE:ABBV)

MFA Wealth Advisors LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 880 shares of the company’s stock after selling 150 shares during the period. MFA Wealth Advisors LLC’s holdings in AbbVie were worth $174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after buying an additional 9,978,415 shares during the period. Capital International Investors raised its position in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. Capital Research Global Investors raised its position in shares of AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after purchasing an additional 992,496 shares during the period. Legal & General Group Plc lifted its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after purchasing an additional 1,240,434 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. UBS Group increased their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. 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. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.47.

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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

NYSE ABBV opened at $187.87 on Thursday. The firm’s fifty day moving average price is $194.22 and its two-hundred day moving average price is $178.08. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm has a market capitalization of $331.75 billion, a P/E ratio of 55.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. 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 (NYSE:ABBV) last issued 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 net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the firm earned $2.91 EPS. AbbVie’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. AbbVie’s payout ratio is 183.98%.

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.