Guardian Asset Advisors LLC Has $905,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Guardian Asset Advisors LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,581 shares of the company’s stock after selling 60 shares during the quarter. Guardian Asset Advisors LLC’s holdings in AbbVie were worth $905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Advocate Group LLC boosted its position in AbbVie by 0.4% during the 3rd quarter. Advocate Group LLC now owns 77,294 shares of the company’s stock worth $15,264,000 after acquiring an additional 295 shares during the period. Cypress Wealth Services LLC lifted its position in shares of AbbVie by 6.0% in the third quarter. Cypress Wealth Services LLC now owns 2,738 shares of the company’s stock worth $541,000 after purchasing an additional 156 shares in the last quarter. Morton Capital Management LLC CA boosted its holdings in shares of AbbVie by 4.1% during the third quarter. Morton Capital Management LLC CA now owns 9,187 shares of the company’s stock worth $1,814,000 after purchasing an additional 358 shares during the period. Kelly Financial Services LLC grew its position in AbbVie by 5.8% during the third quarter. Kelly Financial Services LLC now owns 1,393 shares of the company’s stock valued at $275,000 after purchasing an additional 76 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC increased its stake in shares of AbbVie by 5.4% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 17,608 shares of the company’s stock worth $3,477,000 after acquiring an additional 900 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV stock traded down $0.98 on Thursday, reaching $193.77. 315,721 shares of the company were exchanged, compared to its average volume of 5,300,330. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The stock’s fifty day moving average price is $193.89 and its 200 day moving average price is $177.18. The firm has a market capitalization of $342.17 billion, a PE ratio of 57.74, a PEG ratio of 2.65 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The shares were 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 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 filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on 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 $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This represents 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.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABBV. Truist Financial raised their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. UBS Group upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler raised their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $198.00.

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.