AbbVie Inc. (NYSE:ABBV) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,647 shares of the company’s stock after selling 326 shares during the quarter. Goelzer Investment Management Inc.’s holdings in AbbVie were worth $10,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Frisch Financial Group Inc. lifted its holdings in AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares in the last quarter. First Citizens Financial Corp grew its position in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares during the period. Capital Advisors Ltd. LLC increased its stake in AbbVie by 1.3% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares in the last quarter. Hilltop Partners LLC raised its holdings in AbbVie by 1.4% during the 2nd quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after buying an additional 55 shares during the period. Finally, Longfellow Investment Management Co. LLC lifted its stake in AbbVie by 1.0% in the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock valued at $964,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. 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 note on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Piper Sandler raised their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $191.64.

AbbVie Stock Performance

Shares of ABBV stock traded down $1.16 on Friday, hitting $194.29. The company’s stock had a trading volume of 4,749,856 shares, compared to its average volume of 5,336,546. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a market capitalization of $343.09 billion, a PE ratio of 57.65, a PEG ratio of 2.65 and a beta of 0.63. The stock’s 50 day moving average is $193.35 and its 200-day moving average is $176.85. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for 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 firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.91 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction on 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. 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.