AbbVie Inc. (NYSE:ABBV) Shares Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,672 shares of the company’s stock after purchasing an additional 867 shares during the period. Waldron Private Wealth LLC’s holdings in AbbVie were worth $6,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. AdvisorNet Financial Inc lifted its holdings in AbbVie by 28.4% in the 1st quarter. AdvisorNet Financial Inc now owns 4,524 shares of the company’s stock valued at $824,000 after purchasing an additional 1,000 shares in the last quarter. West Coast Financial LLC lifted its stake in shares of AbbVie by 9.7% during the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after buying an additional 140 shares during the period. Community Bank of Raymore boosted its position in AbbVie by 2.7% during the first quarter. Community Bank of Raymore now owns 22,648 shares of the company’s stock worth $4,124,000 after acquiring an additional 600 shares during the last quarter. New England Professional Planning Group Inc. purchased a new stake in AbbVie in the 1st quarter worth approximately $228,000. Finally, Hoxton Planning & Management LLC raised its holdings in AbbVie by 11.8% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,537 shares of the company’s stock valued at $280,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.0 %

Shares of ABBV stock traded up $1.91 on Tuesday, hitting $188.45. The stock had a trading volume of 1,315,113 shares, compared to its average volume of 5,277,826. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The firm has a market capitalization of $332.78 billion, a price-to-earnings ratio of 55.33, 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 quick ratio of 0.71 and a current ratio of 0.81. The stock’s 50 day moving average is $194.37 and its 200-day moving average is $177.88.

AbbVie (NYSE:ABBV) last issued 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 business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the business earned $2.91 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Buying and Selling

In other 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 transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Piper Sandler lifted their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Truist Financial raised their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. Four 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $198.47.

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.