Exchange Traded Concepts LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 82.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 20,883 shares of the company's stock after selling 96,682 shares during the period. Exchange Traded Concepts LLC's holdings in AbbVie were worth $4,124,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pine Haven Investment Counsel Inc lifted its position in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock worth $3,575,000 after buying an additional 52 shares during the period. Frisch Financial Group Inc. increased its position in shares of AbbVie by 0.8% during the 2nd 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 in the last quarter. First Citizens Financial Corp lifted its holdings in AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock valued at $1,141,000 after purchasing an additional 53 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in AbbVie by 1.3% in the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company's stock valued at $764,000 after buying an additional 55 shares in the last quarter. Finally, Hilltop Partners LLC grew its stake in 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 buying an additional 55 shares during the last quarter. Institutional investors own 70.23% of the company's stock.
A number of research firms have recently issued reports on ABBV. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group raised their target price on AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Piper Sandler Companies reiterated an "overweight" rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, 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 report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $198.00.
Check Out Our Latest Analysis on ABBV
In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the 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 sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the company's stock in a transaction that occurred on 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 $89,792,325. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, 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 corporate insiders.
AbbVie stock opened at $194.19 on Monday. The company has a market cap of $342.91 billion, a price-to-earnings ratio of 57.62, a P/E/G ratio of 2.66 and a beta of 0.63. The firm has a 50-day moving average of $194.08 and a 200-day moving average of $177.37. 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 Inc. has a one year low of $135.85 and a one year high of $199.95.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate 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 return on equity of 203.66% and a net margin of 9.71%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie's payout ratio is presently 183.98%.
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.
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