Willis Investment Counsel Buys New Shares in AbbVie Inc. (NYSE:ABBV)

Willis Investment Counsel bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,141 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. grew its holdings in shares of AbbVie by 3.1% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,609 shares of the company’s stock valued at $515,000 after purchasing an additional 78 shares during the last quarter. Sunflower Bank N.A. grew its holdings in AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after acquiring an additional 53 shares during the last quarter. CVA Family Office LLC grew its holdings in AbbVie by 4.1% in the 3rd quarter. CVA Family Office LLC now owns 3,845 shares of the company’s stock worth $759,000 after acquiring an additional 152 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in AbbVie by 12.8% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 10,207 shares of the company’s stock worth $2,016,000 after acquiring an additional 1,161 shares during the last quarter. Finally, Bright Financial Advisors Inc. bought a new stake in AbbVie in the 3rd quarter worth $205,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler lifted their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. UBS Group lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.00.

AbbVie Stock Down 0.1 %

ABBV opened at $194.19 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a 50 day moving average price of $194.08 and a 200-day moving average price of $177.37. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The stock has a market capitalization of $342.91 billion, a price-to-earnings ratio of 57.62, a PEG ratio of 2.66 and a beta of 0.63.

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

AbbVie Announces Dividend

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 given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. AbbVie’s payout ratio is currently 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.