Wolff Wiese Magana LLC Purchases 646 Shares of AbbVie Inc. (NYSE:ABBV)

Wolff Wiese Magana LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,347 shares of the company’s stock after purchasing an additional 646 shares during the quarter. AbbVie accounts for about 2.2% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 8th biggest holding. Wolff Wiese Magana LLC’s holdings in AbbVie were worth $3,228,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 valued at $31,025,605,000 after buying an additional 9,978,415 shares during the period. Capital World Investors lifted its holdings in AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Capital International Investors lifted its holdings in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. TD Asset Management Inc grew its stake in AbbVie by 156.0% in the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after acquiring an additional 2,116,997 shares during the period. Finally, Swedbank AB bought a new stake in shares of AbbVie in the first quarter worth about $367,372,000. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. UBS Group boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Two 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’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $198.00.

AbbVie Price Performance

Shares of NYSE ABBV opened at $190.46 on Thursday. 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 $194.50 and a 200-day moving average of $177.63. The stock has a market capitalization of $336.33 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the company earned $2.91 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.26%. AbbVie’s payout ratio is 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.