AbbVie Inc. (NYSE:ABBV) Shares Acquired by Burkett Financial Services LLC

Burkett Financial Services LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 61.2% in the third quarter, Holdings Channel reports. The firm owned 216 shares of the company’s stock after buying an additional 82 shares during the period. Burkett Financial Services LLC’s holdings in AbbVie were worth $43,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Cullen Capital Management LLC increased its holdings in shares of AbbVie by 7.2% during the fourth quarter. Cullen Capital Management LLC now owns 3,474 shares of the company’s stock valued at $538,000 after acquiring an additional 234 shares in the last quarter. Bellevue Group AG increased its stake in AbbVie by 41.2% during the 4th quarter. Bellevue Group AG now owns 6,727 shares of the company’s stock valued at $1,042,000 after purchasing an additional 1,964 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of AbbVie by 16.7% in the fourth quarter. MGO One Seven LLC now owns 27,003 shares of the company’s stock worth $4,185,000 after buying an additional 3,868 shares during the last quarter. BOKF NA lifted its stake in shares of AbbVie by 5.2% during the fourth quarter. BOKF NA now owns 319,340 shares of the company’s stock worth $49,488,000 after buying an additional 15,642 shares during the period. Finally, Ethic Inc. grew its holdings in shares of AbbVie by 10.2% during the fourth quarter. Ethic Inc. now owns 38,570 shares of the company’s stock valued at $5,977,000 after buying an additional 3,574 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ABBV. Morgan Stanley lifted their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Truist Financial restated a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Two investment 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. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.67.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction 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 sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. This trade represents 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 owned by insiders.

AbbVie Price Performance

ABBV traded down $0.24 during trading on Wednesday, hitting $192.77. The company’s stock had a trading volume of 569,441 shares, compared to its average volume of 5,305,843. 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 firm has a market capitalization of $340.41 billion, a price-to-earnings ratio of 57.18, a P/E/G ratio of 2.65 and a beta of 0.63. The business’s fifty day simple moving average is $193.70 and its 200 day simple moving average is $177.05. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

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

AbbVie Dividend Announcement

The business also recently announced 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 yield of 3.22%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is currently 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.