AbbVie Inc. (NYSE:ABBV) Shares Bought by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,345 shares of the company’s stock after acquiring an additional 101 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in AbbVie were worth $661,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the second quarter worth about $27,000. IFS Advisors LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at $36,000. Marquette Asset Management LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $39,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the 1st quarter worth about $37,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV traded down $0.17 during mid-day trading on Thursday, reaching $194.58. The company had a trading volume of 600,806 shares, compared to its average volume of 5,301,785. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market capitalization of $343.60 billion, a P/E ratio of 57.63, a P/E/G ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The company’s 50-day moving average is $193.89 and its 200-day moving average is $177.18.

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

AbbVie Announces Dividend

The firm 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 dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

Insider Activity

In other 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 sale, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABBV shares. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price 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. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, UBS Group boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.00.

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.