Insight Folios Inc Has $8.36 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Insight Folios Inc boosted its stake in AbbVie Inc. (NYSE:ABBV) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,313 shares of the company’s stock after acquiring an additional 1,941 shares during the period. AbbVie accounts for 3.0% of Insight Folios Inc’s investment portfolio, making the stock its 9th largest holding. Insight Folios Inc’s holdings in AbbVie were worth $8,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in shares of AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the second quarter worth approximately $27,000. Quest Partners LLC lifted its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie during the 1st quarter worth approximately $37,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets increased their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $199.39.

AbbVie Stock Down 0.9 %

ABBV opened at $187.85 on Monday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The firm has a market capitalization of $331.72 billion, a P/E ratio of 55.74, a PEG ratio of 2.66 and a beta of 0.63. The company’s 50-day moving average is $194.02 and its 200 day moving average is $178.40. 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 (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating 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 analyst estimates of $14.02 billion. During the same quarter last year, the business posted $2.91 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

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.