Duncan Williams Asset Management LLC Boosts Position in AbbVie Inc. (NYSE:ABBV)

Duncan Williams Asset Management LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 135.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,260 shares of the company’s stock after buying an additional 2,454 shares during the period. Duncan Williams Asset Management LLC’s holdings in AbbVie were worth $841,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the second quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $26,000. IFS Advisors LLC purchased a new stake in shares of AbbVie during the first quarter valued at approximately $36,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $195.38 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a market capitalization of $345.02 billion, a price-to-earnings ratio of 57.98, a PEG ratio of 2.65 and a beta of 0.64. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The stock’s fifty day moving average is $193.17 and its two-hundred day moving average is $176.74.

AbbVie (NYSE:ABBV) last posted 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. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $2.91 earnings per share. On average, research analysts predict that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Piper Sandler raised 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. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Buy” and a consensus price target of $191.64.

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.