AbbVie Inc. (NYSE:ABBV) Shares Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,526 shares of the company’s stock after buying an additional 3,880 shares during the period. AbbVie makes up approximately 2.5% of Wright Investors Service Inc.’s portfolio, making the stock its 7th largest position. Wright Investors Service Inc.’s holdings in AbbVie were worth $9,583,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. West Coast Financial LLC increased its holdings in AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares during the last quarter. FCG Investment Co acquired a new stake in AbbVie in the 1st quarter valued at approximately $1,413,000. Safeguard Financial LLC acquired a new stake in AbbVie in the 1st quarter valued at approximately $235,000. BluePath Capital Management LLC increased its holdings in AbbVie by 0.9% in 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 during the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in AbbVie in the 4th quarter valued at approximately $87,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABBV shares. Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. 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. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets raised their price target 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. Finally, Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $191.64.

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 shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE ABBV traded down $1.16 during trading hours on Friday, hitting $194.29. The company had a trading volume of 4,749,856 shares, compared to its average volume of 5,336,546. 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 Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a market cap of $343.09 billion, a PE ratio of 57.65, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The business has a 50 day moving average of $193.35 and a 200-day moving average of $176.85.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the firm posted $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s dividend payout ratio 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.