AbbVie Inc. (NYSE:ABBV) Holdings Lowered by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the third quarter, Holdings Channel.com reports. The fund owned 8,818 shares of the company’s stock after selling 257 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in AbbVie were worth $1,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares during the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Capital Research Global Investors lifted its position in shares of AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after acquiring an additional 992,496 shares during the last quarter. Legal & General Group Plc lifted its position in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction 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 directly owns 513,099 shares in the company, valued at $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ABBV. BMO Capital Markets upped their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Morgan Stanley upped their price target 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. Finally, Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.00.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $194.19 on Monday. The stock has a market capitalization of $342.91 billion, a P/E ratio of 57.62, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The business has a 50-day moving average of $194.08 and a two-hundred day moving average of $177.37. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio 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.