Chesley Taft & Associates LLC Sells 432 Shares of AbbVie Inc. (NYSE:ABBV)

Chesley Taft & Associates LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,011 shares of the company’s stock after selling 432 shares during the quarter. Chesley Taft & Associates LLC’s holdings in AbbVie were worth $3,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Vanguard Group Inc. increased its holdings in AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after buying an additional 9,978,415 shares during the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after purchasing an additional 3,120,310 shares during the period. Capital International Investors raised its holdings in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. TD Asset Management Inc lifted its position in AbbVie by 156.0% during the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after purchasing an additional 2,116,997 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of AbbVie during the 1st quarter worth $367,372,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent research reports. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Barclays raised their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Truist Financial reaffirmed 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. Finally, Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $194.67.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on 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 completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. 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 available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’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 completion of the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was 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 Trading Down 0.4 %

Shares of ABBV opened at $193.57 on Tuesday. The stock has a market capitalization of $341.82 billion, a PE ratio of 57.44, a P/E/G ratio of 2.65 and a beta of 0.63. The company’s fifty day moving average is $193.35 and its 200 day moving average is $176.84. 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 fifty-two week low of $135.85 and a fifty-two week high of $199.95.

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

AbbVie Announces Dividend

The business also recently announced 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 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.