Bogart Wealth LLC Sells 85 Shares of AbbVie Inc. (NYSE:ABBV)

Bogart Wealth LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,720 shares of the company’s stock after selling 85 shares during the period. Bogart Wealth LLC’s holdings in AbbVie were worth $735,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC increased its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie during the 1st quarter valued at about $37,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie in the 3rd quarter worth approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley increased 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. Piper Sandler lifted their target price 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. Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.47.

AbbVie Stock Up 1.0 %

Shares of NYSE ABBV opened at $189.68 on Friday. The firm has a fifty day simple moving average of $194.22 and a two-hundred day simple moving average of $178.08. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. 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 $334.95 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released 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. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.91 earnings per share. Equities analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend 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.