AbbVie Inc. (NYSE:ABBV) Position Boosted by Eagle Wealth Strategies LLC

Eagle Wealth Strategies LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,870 shares of the company’s stock after purchasing an additional 73 shares during the period. Eagle Wealth Strategies LLC’s holdings in AbbVie were worth $369,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ABBV. Fairway Wealth LLC bought a new position in AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the second quarter worth about $27,000. Able Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth about $33,000. IFS Advisors LLC bought a new position in AbbVie in the first quarter worth about $36,000. Finally, Quest Partners LLC raised its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. This represents 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Truist Financial reissued a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $194.67.

AbbVie Stock Down 0.2 %

NYSE:ABBV traded down $0.48 during trading hours on Wednesday, reaching $192.53. The company’s stock had a trading volume of 218,820 shares, compared to its average volume of 5,304,045. The company has a market cap of $339.98 billion, a price-to-earnings ratio of 57.27, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The business’s 50-day moving average is $193.70 and its 200-day moving average is $177.05. 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 (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 analysts’ consensus estimates 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%. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 earnings per share. Equities research analysts predict 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.