Courier Capital LLC Has $2.92 Million Position in AbbVie Inc. (NYSE:ABBV)

Courier Capital LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,793 shares of the company’s stock after selling 1,813 shares during the period. Courier Capital LLC’s holdings in AbbVie were worth $2,921,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Sovereign Financial Group Inc. raised its position in shares of AbbVie by 18.6% during the first quarter. Sovereign Financial Group Inc. now owns 3,212 shares of the company’s stock worth $585,000 after acquiring an additional 503 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of AbbVie by 10.1% in the 1st quarter. Revolve Wealth Partners LLC now owns 3,083 shares of the company’s stock worth $561,000 after purchasing an additional 282 shares during the period. DGS Capital Management LLC increased its position in shares of AbbVie by 33.0% during the first quarter. DGS Capital Management LLC now owns 3,279 shares of the company’s stock worth $597,000 after buying an additional 814 shares during the period. Wealthcare Advisory Partners LLC raised its stake in AbbVie by 23.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 42,837 shares of the company’s stock worth $7,801,000 after buying an additional 8,184 shares during the last quarter. Finally, Signet Financial Management LLC lifted its holdings in AbbVie by 0.3% in the first quarter. Signet Financial Management LLC now owns 42,664 shares of the company’s stock valued at $7,769,000 after buying an additional 128 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

ABBV opened at $187.87 on Thursday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. 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 company has a market capitalization of $331.75 billion, a price-to-earnings ratio of 55.75, a P/E/G ratio of 2.66 and a beta of 0.63. The firm’s fifty day moving average price is $194.22 and its two-hundred day moving average price is $178.08.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABBV shares. Wells Fargo & Company lifted 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. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Barclays increased their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

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.