waypoint wealth counsel Raises Holdings in AbbVie Inc. (NYSE:ABBV)

waypoint wealth counsel grew its stake in AbbVie Inc. (NYSE:ABBV) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,442 shares of the company’s stock after purchasing an additional 88 shares during the period. waypoint wealth counsel’s holdings in AbbVie were worth $680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie in the 2nd quarter valued at approximately $27,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $33,000. Finally, IFS Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s 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 completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 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 legal filing with the SEC, which is available through this link. Also, 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 transaction of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This trade 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.

AbbVie Stock Down 0.6 %

NYSE ABBV traded down $1.16 during trading on Friday, reaching $194.29. The company’s stock had a trading volume of 4,749,856 shares, compared to its average volume of 5,336,546. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a market capitalization of $343.09 billion, a PE ratio of 57.65, a PEG ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The business has a 50-day moving average price of $193.35 and a 200-day moving average price of $176.83.

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

AbbVie Announces Dividend

The company 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 $1.55 dividend. 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 183.98%.

Analyst Ratings Changes

Several analysts have commented on ABBV shares. Piper Sandler upped their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. 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. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Barclays raised their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $191.64.

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.