Financial Advisory Partners LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Financial Advisory Partners LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,364 shares of the company’s stock after selling 210 shares during the period. Financial Advisory Partners LLC’s holdings in AbbVie were worth $270,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABBV. Ethic Inc. lifted its position in shares of AbbVie by 10.2% in the 4th quarter. Ethic Inc. now owns 38,570 shares of the company’s stock worth $5,977,000 after purchasing an additional 3,574 shares during the period. First Financial Bankshares Inc purchased a new stake in AbbVie in the fourth quarter worth about $875,000. Kestra Advisory Services LLC boosted its position in AbbVie by 2.1% during the 4th quarter. Kestra Advisory Services LLC now owns 289,111 shares of the company’s stock valued at $44,804,000 after acquiring an additional 5,962 shares in the last quarter. Waverly Advisors LLC grew its holdings in shares of AbbVie by 7.8% during the 4th quarter. Waverly Advisors LLC now owns 31,828 shares of the company’s stock worth $4,932,000 after acquiring an additional 2,290 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of AbbVie in the 4th quarter worth approximately $14,080,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AbbVie news, 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 sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s 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 completion of the transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ABBV shares. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Truist Financial lifted their price target on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley lifted their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, UBS Group increased their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.00.

AbbVie Price Performance

Shares of AbbVie stock traded down $0.17 during trading on Thursday, reaching $194.58. 600,806 shares of the stock traded hands, compared to its average volume of 5,301,785. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. 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 business has a fifty day simple moving average of $193.89 and a two-hundred day simple moving average of $177.18. The company has a market capitalization of $343.60 billion, a price-to-earnings ratio of 57.63, a P/E/G ratio of 2.65 and a beta of 0.63.

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

AbbVie Dividend Announcement

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

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.