Foresight Capital Management Advisors Inc. Buys 1,237 Shares of AbbVie Inc. (NYSE:ABBV)

Foresight Capital Management Advisors Inc. grew its stake in AbbVie Inc. (NYSE:ABBV) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,099 shares of the company’s stock after acquiring an additional 1,237 shares during the quarter. Foresight Capital Management Advisors Inc.’s holdings in AbbVie were worth $1,797,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ABBV. West Coast Financial LLC raised its stake 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 purchasing an additional 140 shares during the last quarter. FCG Investment Co purchased a new position in shares of AbbVie in the first quarter worth $1,413,000. Safeguard Financial LLC purchased a new position in shares of AbbVie in the first quarter worth $235,000. BluePath Capital Management LLC raised its stake in shares of AbbVie by 0.9% in 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 last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in AbbVie during the fourth quarter valued at $87,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Barclays upped their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.67.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on 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 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 link. 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 transaction of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock traded down $0.72 during midday trading on Monday, reaching $193.57. 5,032,892 shares of the stock traded hands, compared to its average volume of 5,334,974. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The stock’s fifty day moving average is $193.35 and its 200-day moving average is $176.84. The stock has a market cap of $341.82 billion, a P/E ratio of 57.35, a PEG ratio of 2.65 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the business posted $2.91 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current 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 given a dividend of $1.55 per share. The ex-dividend date of this dividend 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 presently 183.98%.

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.