Callan Family Office LLC Has $636,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Callan Family Office LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,219 shares of the company’s stock after purchasing an additional 106 shares during the quarter. Callan Family Office LLC’s holdings in AbbVie were worth $636,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $27,000. Able Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $36,000. Finally, Quest Partners LLC lifted its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. Morgan Stanley increased their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. BMO Capital Markets upped their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $194.67.

AbbVie Stock Down 0.4 %

Shares of ABBV opened at $193.57 on Tuesday. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The firm’s 50 day moving average is $193.35 and its 200-day moving average is $176.84. The stock has a market capitalization of $341.82 billion, a PE ratio of 57.44, a P/E/G ratio of 2.65 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 announced 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 company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm earned $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred 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 transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.