Helen Stephens Group LLC Buys New Holdings in AbbVie Inc. (NYSE:ABBV)

Helen Stephens Group LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,308 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cullen Capital Management LLC grew its position in shares of AbbVie by 7.2% during the fourth quarter. Cullen Capital Management LLC now owns 3,474 shares of the company’s stock worth $538,000 after acquiring an additional 234 shares during the last quarter. Bellevue Group AG grew its position in shares of AbbVie by 41.2% during the fourth quarter. Bellevue Group AG now owns 6,727 shares of the company’s stock worth $1,042,000 after acquiring an additional 1,964 shares during the last quarter. MGO One Seven LLC grew its position in shares of AbbVie by 16.7% during the fourth quarter. MGO One Seven LLC now owns 27,003 shares of the company’s stock worth $4,185,000 after acquiring an additional 3,868 shares during the last quarter. BOKF NA grew its position in shares of AbbVie by 5.2% during the fourth quarter. BOKF NA now owns 319,340 shares of the company’s stock worth $49,488,000 after acquiring an additional 15,642 shares during the last quarter. Finally, Ethic Inc. grew its position in shares of AbbVie by 10.2% during the fourth quarter. Ethic Inc. now owns 38,570 shares of the company’s stock worth $5,977,000 after acquiring an additional 3,574 shares during the last quarter. 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 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 value of $12,403,580.00. Following the transaction, the chairman now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $12,403,580.00. Following the transaction, the chairman now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The trade was 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ABBV shares. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued 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 report on Friday, August 30th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets lifted their price objective 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. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $194.67.

AbbVie Stock Performance

AbbVie stock opened at $192.99 on Wednesday. The stock’s 50 day moving average price is $193.58 and its 200 day moving average price is $176.95. The firm has a market capitalization of $340.79 billion, a PE ratio of 57.27, a price-to-earnings-growth 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. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared 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. This represents a $6.20 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.