Sage Capital Advisors llc Purchases 3,212 Shares of AbbVie Inc. (NYSE:ABBV)

Sage Capital Advisors llc lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,455 shares of the company’s stock after acquiring an additional 3,212 shares during the period. AbbVie makes up about 1.2% of Sage Capital Advisors llc’s portfolio, making the stock its 27th largest holding. Sage Capital Advisors llc’s holdings in AbbVie were worth $4,434,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Frisch Financial Group Inc. boosted its position in AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares during the period. First Citizens Financial Corp grew its stake in AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after buying an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in AbbVie by 1.3% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock valued at $764,000 after acquiring an additional 55 shares during the period. Hilltop Partners LLC lifted its position in shares of AbbVie by 1.4% during the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after acquiring an additional 55 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC boosted its holdings in shares of AbbVie by 1.0% in the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after acquiring an additional 58 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

AbbVie stock opened at $192.99 on Wednesday. The firm has a fifty day simple moving average of $193.58 and a two-hundred day simple moving average of $176.95. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The company has a market capitalization of $340.79 billion, a PE ratio of 57.27, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 analyst estimates of $14.02 billion. During the same period last year, the company earned $2.91 EPS. AbbVie’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. TD Cowen increased their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BMO Capital Markets raised their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.67.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were 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 directly owns 513,099 shares of the company’s stock, valued at $89,792,325. This represents 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. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.