AbbVie Inc. (NYSE:ABBV) Shares Acquired by Appleton Partners Inc. MA

Appleton Partners Inc. MA raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,555 shares of the company’s stock after acquiring an additional 2,909 shares during the period. Appleton Partners Inc. MA’s holdings in AbbVie were worth $4,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Atlas Brown Inc. lifted its stake in AbbVie by 3.6% during the 3rd quarter. Atlas Brown Inc. now owns 32,965 shares of the company’s stock valued at $3,556,000 after acquiring an additional 1,132 shares during the period. Archford Capital Strategies LLC lifted its stake in AbbVie by 5.5% during the 3rd quarter. Archford Capital Strategies LLC now owns 6,896 shares of the company’s stock valued at $744,000 after acquiring an additional 358 shares during the period. Procyon Private Wealth Partners LLC lifted its stake in shares of AbbVie by 6.9% in the 3rd quarter. Procyon Private Wealth Partners LLC now owns 29,653 shares of the company’s stock valued at $3,199,000 after purchasing an additional 1,920 shares during the period. Genesee Capital Advisors LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $225,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its stake in shares of AbbVie by 6.2% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 3,233 shares of the company’s stock valued at $349,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 65.86% of the company’s stock.

In other news, Director Roxanne S. Austin sold 51,844 shares of the firm’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $116.38, for a total transaction of $6,033,604.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

NYSE:ABBV traded down $0.22 during mid-day trading on Thursday, hitting $118.66. The stock had a trading volume of 5,792,843 shares, compared to its average volume of 6,833,980. The stock has a 50-day simple moving average of $111.61 and a two-hundred day simple moving average of $113.90. The company has a market capitalization of $209.69 billion, a PE ratio of 28.25, a PEG ratio of 2.46 and a beta of 0.83. AbbVie Inc. has a twelve month low of $101.55 and a twelve month high of $121.53. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 5.45.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, October 28th. The company reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.11. The firm had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.30 billion. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.83 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 14th will be paid a $1.41 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Thursday, January 13th. AbbVie’s dividend payout ratio is currently 123.81%.

ABBV has been the subject of several recent analyst reports. Truist Securities boosted their price target on shares of AbbVie from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler boosted their price target on shares of AbbVie from $124.00 to $129.00 and gave the stock an “overweight” rating in a report on Friday, October 29th. SVB Leerink cut their price target on shares of AbbVie from $142.00 to $135.00 and set an “outperform” rating for the company in a report on Monday, November 1st. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Argus upped their price objective on shares of AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 5th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $129.58.

About AbbVie

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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