Traphagen Investment Advisors LLC Has $1.91 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Traphagen Investment Advisors LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,694 shares of the company’s stock after selling 69 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in AbbVie were worth $1,914,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABBV. Home Federal Bank of Tennessee boosted its stake in shares of AbbVie by 1.8% in the third quarter. Home Federal Bank of Tennessee now owns 18,021 shares of the company’s stock valued at $3,559,000 after buying an additional 326 shares during the period. Kessler Investment Group LLC acquired a new position in AbbVie in the 3rd quarter valued at $377,000. Sweeney & Michel LLC lifted its position in shares of AbbVie by 3.3% during the 3rd quarter. Sweeney & Michel LLC now owns 9,426 shares of the company’s stock valued at $1,780,000 after acquiring an additional 305 shares during the period. Calton & Associates Inc. lifted its position in shares of AbbVie by 22.3% during the 3rd quarter. Calton & Associates Inc. now owns 4,408 shares of the company’s stock valued at $871,000 after acquiring an additional 804 shares during the period. Finally, Krane Funds Advisors LLC grew its holdings in shares of AbbVie by 3.1% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,182 shares of the company’s stock worth $431,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.0 %

ABBV traded down $0.07 during trading on Tuesday, hitting $186.47. The company’s stock had a trading volume of 432,480 shares, compared to its average volume of 5,273,500. The firm has a market capitalization of $329.28 billion, a P/E ratio of 55.33, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The stock’s fifty day moving average price is $194.37 and its 200-day moving average price is $177.88. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

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 the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 annualized dividend and a yield of 3.32%. AbbVie’s payout ratio is 183.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. BMO Capital Markets upped their price target on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Truist Financial lifted their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, UBS Group raised their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.47.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.