AbbVie Inc. (NYSE:ABBV) Shares Sold by Grandview Asset Management LLC

Grandview Asset Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,047 shares of the company’s stock after selling 168 shares during the quarter. AbbVie makes up 2.0% of Grandview Asset Management LLC’s portfolio, making the stock its 11th biggest holding. Grandview Asset Management LLC’s holdings in AbbVie were worth $3,564,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. West Coast Financial LLC raised its position in shares of AbbVie by 9.7% during the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after purchasing an additional 140 shares during the last quarter. FCG Investment Co purchased a new position in AbbVie during the first quarter worth $1,413,000. Safeguard Financial LLC acquired a new position in shares of AbbVie in the first quarter worth $235,000. BluePath Capital Management LLC lifted its position in shares of AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after acquiring an additional 67 shares in the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of AbbVie during the fourth quarter valued at $87,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In related 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 of the company’s stock, valued at $89,792,325. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 value of $49,497,875.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.6 %

AbbVie stock traded down $1.16 during trading on Friday, reaching $194.29. 4,749,856 shares of the company’s stock were exchanged, compared to its average volume of 5,336,546. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The firm has a market cap of $343.09 billion, a price-to-earnings ratio of 57.65, a PEG 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. The company’s 50-day moving average is $193.35 and its two-hundred day moving average is $176.83.

AbbVie (NYSE:ABBV) last issued 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. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 earnings per share. On average, analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Barclays boosted their price target on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company upped their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Buy” and an average price target of $191.64.

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.