Evanson Asset Management LLC Has $696,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Evanson Asset Management LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,524 shares of the company’s stock after selling 139 shares during the quarter. Evanson Asset Management LLC’s holdings in AbbVie were worth $696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth approximately $27,000. IFS Advisors LLC acquired a new position in AbbVie during the first quarter valued at approximately $36,000. Redmont Wealth Advisors LLC acquired a new position in AbbVie during the first quarter valued at approximately $37,000. Finally, Quest Partners LLC increased its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, 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 value of $49,497,875.00. Following the sale, 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 SEC, which is accessible through this link. 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 completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $193.57 on Tuesday. 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 firm has a market cap of $341.82 billion, a price-to-earnings ratio of 57.44, a PEG ratio of 2.65 and a beta of 0.63. The company’s fifty day simple moving average is $193.35 and its 200 day simple moving average is $176.84. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.91 EPS. On average, analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 dividend yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analysts Set New Price Targets

A number of analysts recently commented on ABBV shares. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Finally, TD Cowen raised 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. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $194.67.

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.