Versant Capital Management Inc Has $403,000 Position in AbbVie Inc. (NYSE:ABBV)

Versant Capital Management Inc raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 43.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,042 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Versant Capital Management Inc’s holdings in AbbVie were worth $403,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABBV shares. Wells Fargo & Company boosted 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. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. BMO Capital Markets lifted their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Piper Sandler upped their price objective on 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, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $194.67.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly 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 SEC, which can be accessed through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 approximately $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 Stock Performance

Shares of NYSE:ABBV opened at $193.57 on Tuesday. The firm has a market cap of $341.82 billion, a PE ratio of 57.44, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. 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 Inc. has a one year low of $135.85 and a one year high of $199.95. The firm’s 50 day simple moving average is $193.35 and its 200-day simple moving average is $176.84.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.91 EPS. As a group, equities analysts predict 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. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.20%. 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.