AbbVie Inc. (NYSE:ABBV) Shares Bought by FCF Advisors LLC

FCF Advisors LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 63,371 shares of the company’s stock after acquiring an additional 2,555 shares during the period. AbbVie accounts for approximately 2.9% of FCF Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. FCF Advisors LLC’s holdings in AbbVie were worth $12,515,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the second quarter valued at about $27,000. Able Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter worth about $33,000. IFS Advisors LLC acquired a new position in shares of AbbVie in the first quarter worth approximately $36,000. Finally, Quest Partners LLC increased its position in AbbVie by 4,140.0% during 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABBV. Piper Sandler boosted their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Two 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.67.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred 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 transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.4 %

Shares of NYSE ABBV traded down $0.78 during mid-day trading on Tuesday, reaching $192.83. 830,069 shares of the company’s stock traded hands, compared to its average volume of 5,311,477. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The business has a 50-day simple moving average of $193.35 and a 200 day simple moving average of $176.84. The stock has a market cap of $340.51 billion, a P/E ratio of 57.17, a PEG ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95.

AbbVie (NYSE:ABBV) last released its quarterly 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. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.91 EPS. On average, analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.