Gill Capital Partners LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Gill Capital Partners LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,040 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors have also added to or reduced their stakes in ABBV. West Coast Financial LLC increased its position in shares of AbbVie by 9.7% during the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after buying an additional 140 shares during the period. FCG Investment Co purchased a new position in shares of AbbVie during the first quarter valued at about $1,413,000. Safeguard Financial LLC purchased a new position in shares of AbbVie during the first quarter valued at about $235,000. BluePath Capital Management LLC increased its position in shares of AbbVie by 0.9% during the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after buying an additional 67 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at about $87,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 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 disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $194.67.

AbbVie Trading Down 0.3 %

Shares of NYSE ABBV opened at $192.99 on Wednesday. The firm’s 50 day moving average price is $193.58 and its 200-day moving average price is $176.95. The company has a market cap of $340.79 billion, a PE ratio of 57.27, a P/E/G ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 yield of 3.21%. 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.