3Chopt Investment Partners LLC Has $2.24 Million Holdings in AbbVie Inc. (NYSE:ABBV)

3Chopt Investment Partners LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 20.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,030 shares of the company’s stock after buying an additional 2,235 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in AbbVie were worth $2,235,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ABBV. West Coast Financial LLC increased its holdings in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after acquiring an additional 140 shares in the last quarter. FCG Investment Co acquired a new position in AbbVie in the 1st quarter valued at $1,413,000. Safeguard Financial LLC acquired a new position in shares of AbbVie in the first quarter valued at about $235,000. BluePath Capital Management LLC increased its holdings in shares of AbbVie by 0.9% during the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after purchasing an additional 67 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new position in AbbVie in the 4th quarter valued at $87,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock opened at $197.48 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The company has a fifty day simple moving average of $192.02 and a two-hundred day simple moving average of $176.34. The firm has a market capitalization of $348.72 billion, a P/E ratio of 58.60, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping 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 business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the company posted $2.91 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Barclays boosted their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $191.64.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.