Hoxton Planning & Management LLC Buys 338 Shares of AbbVie Inc. (NYSE:ABBV)

Hoxton Planning & Management LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,830 shares of the company’s stock after purchasing an additional 338 shares during the period. Hoxton Planning & Management LLC’s holdings in AbbVie were worth $361,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of AbbVie by 6.2% during the 1st 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 period. Capital International Investors boosted its position in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Capital Research Global Investors increased its position in shares of AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after buying an additional 992,496 shares in the last quarter. Legal & General Group Plc increased its position in shares of AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after buying an additional 1,240,434 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the 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 sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred 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 owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents 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 opened at $192.99 on Wednesday. The stock has a fifty day moving average of $193.58 and a 200-day moving average of $176.95. The stock has a market capitalization of $340.79 billion, a P/E ratio of 57.27, 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 52 week low of $135.85 and a 52 week high of $199.95.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating 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 analyst estimates of $14.02 billion. During the same quarter last year, the business posted $2.91 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABBV. 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. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets boosted their price target on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Wells Fargo & Company upped their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned 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 target price 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.