Chicago Capital LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Chicago Capital LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,696 shares of the company’s stock after selling 787 shares during the quarter. Chicago Capital LLC’s holdings in AbbVie were worth $10,406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MJP Associates Inc. ADV increased its holdings in shares of AbbVie by 17.7% during the 1st quarter. MJP Associates Inc. ADV now owns 4,899 shares of the company’s stock worth $892,000 after buying an additional 736 shares during the last quarter. Sanders Morris Harris LLC grew its position in AbbVie by 17.4% in the first quarter. Sanders Morris Harris LLC now owns 22,891 shares of the company’s stock worth $4,168,000 after acquiring an additional 3,393 shares during the period. Matthew Goff Investment Advisor LLC increased its stake in AbbVie by 0.5% during the first quarter. Matthew Goff Investment Advisor LLC now owns 17,509 shares of the company’s stock worth $3,188,000 after acquiring an additional 92 shares during the last quarter. &PARTNERS raised its position in AbbVie by 79.4% in the first quarter. &PARTNERS now owns 14,788 shares of the company’s stock valued at $2,693,000 after purchasing an additional 6,544 shares during the period. Finally, City State Bank lifted its stake in shares of AbbVie by 0.8% in the 1st quarter. City State Bank now owns 9,990 shares of the company’s stock valued at $1,819,000 after purchasing an additional 81 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler increased 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. Wells Fargo & Company boosted their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday. They issued a “market perform” rating and a $203.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.47.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

ABBV stock opened at $188.86 on Friday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm has a market capitalization of $333.50 billion, a P/E ratio of 56.04, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The business’s 50-day moving average is $194.44 and its two-hundred day moving average is $177.74.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $14.02 billion. During the same quarter last year, the company earned $2.91 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

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.