Strategic Blueprint LLC Has $2 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Strategic Blueprint LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,104 shares of the company’s stock after selling 1,232 shares during the period. Strategic Blueprint LLC’s holdings in AbbVie were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FCG Investment Co bought a new position in AbbVie in the first quarter worth $1,413,000. BluePath Capital Management LLC increased its stake in AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after acquiring an additional 67 shares during the period. Palisade Asset Management LLC raised its position in AbbVie by 65.6% in the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after purchasing an additional 38,562 shares in the last quarter. First Hawaiian Bank boosted its stake in AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares in the last quarter. Finally, PGGM Investments boosted its stake in shares of AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ABBV shares. BMO Capital Markets increased their price objective 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 reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Truist Financial raised their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $199.39.

AbbVie Stock Down 0.1 %

ABBV stock opened at $189.50 on Wednesday. The company has a market cap of $334.63 billion, a price-to-earnings ratio of 56.23, a P/E/G 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 business has a 50 day moving average price of $193.75 and a two-hundred day moving average price of $178.75. 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 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 paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.27%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Activity

In related 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 transaction of $12,403,580.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie 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.