AbbVie Inc. (NYSE:ABBV) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,288 shares of the company’s stock after selling 1,805 shares during the period. AbbVie makes up approximately 2.1% of LaFleur & Godfrey LLC’s investment portfolio, making the stock its 14th largest holding. LaFleur & Godfrey LLC’s holdings in AbbVie were worth $15,065,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. West Coast Financial LLC raised its position in shares of AbbVie by 9.7% during the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after buying an additional 140 shares in the last quarter. FCG Investment Co bought a new stake in AbbVie during the first quarter worth approximately $1,413,000. Safeguard Financial LLC acquired a new stake in AbbVie in the first quarter worth approximately $235,000. BluePath Capital Management LLC boosted its stake in AbbVie by 0.9% during the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after purchasing an additional 67 shares in the last quarter. Finally, Palisade Asset Management LLC increased its position in shares of AbbVie by 65.6% during the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock valued at $17,726,000 after purchasing an additional 38,562 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. UBS Group upped their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets raised their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.00.

AbbVie Stock Down 0.7 %

Shares of AbbVie stock opened at $190.46 on Thursday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a market cap of $336.33 billion, a P/E ratio of 56.52, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a 50-day moving average price of $194.50 and a 200 day moving average price of $177.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.