Investors Asset Management of Georgia Inc. GA ADV Sells 342 Shares of AbbVie Inc. (NYSE:ABBV)

Investors Asset Management of Georgia Inc. GA ADV reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,604 shares of the company’s stock after selling 342 shares during the quarter. AbbVie comprises 1.6% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 14th largest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in AbbVie were worth $3,476,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. Quest Partners LLC increased its holdings in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares in the last quarter. Finally, Burkett Financial Services LLC increased its holdings in shares of AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after acquiring an additional 82 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $0.32 during trading on Friday, hitting $203.55. 4,493,880 shares of the stock traded hands, compared to its average volume of 5,329,237. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The stock has a market cap of $359.54 billion, a price-to-earnings ratio of 70.68, a PEG ratio of 2.76 and a beta of 0.63. The firm’s fifty day moving average is $194.12 and its 200-day moving average is $179.38. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.9 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.22%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

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.