AbbVie Inc. (NYSE:ABBV) Shares Sold by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,596 shares of the company’s stock after selling 72 shares during the period. Impact Partnership Wealth LLC’s holdings in AbbVie were worth $1,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in AbbVie in the first quarter valued at approximately $37,000. Finally, Marquette Asset Management LLC acquired a new position in AbbVie during the third quarter worth $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock traded up $1.35 during trading on Thursday, reaching $189.23. 308,992 shares of the company were exchanged, compared to its average volume of 5,262,853. The company has a market cap of $334.16 billion, a P/E ratio of 55.75, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The stock’s 50 day moving average price is $194.22 and its 200 day moving average price is $178.08. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the firm earned $2.91 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. TD Cowen boosted their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Four research 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. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $198.47.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Company 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.