AbbVie Inc. (NYSE:ABBV) is Inspirion Wealth Advisors LLC’s 6th Largest Position

Inspirion Wealth Advisors LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 202,312 shares of the company’s stock after selling 4,696 shares during the quarter. AbbVie accounts for approximately 5.6% of Inspirion Wealth Advisors LLC’s holdings, making the stock its 6th biggest position. Inspirion Wealth Advisors LLC’s holdings in AbbVie were worth $39,953,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. 1832 Asset Management L.P. raised its holdings in AbbVie by 1.5% during the 4th quarter. 1832 Asset Management L.P. now owns 58,817 shares of the company’s stock valued at $9,115,000 after buying an additional 864 shares during the period. Morningstar Investment Services LLC raised its stake in AbbVie by 110.6% in the fourth quarter. Morningstar Investment Services LLC now owns 10,694 shares of the company’s stock valued at $1,655,000 after buying an additional 5,616 shares during the last quarter. Wealth Quarterback LLC raised its stake in shares of AbbVie by 2.1% in the fourth quarter. Wealth Quarterback LLC now owns 8,280 shares of the company’s stock worth $1,283,000 after purchasing an additional 174 shares during the last quarter. Waterloo Capital L.P. raised its position in AbbVie by 571.2% during the fourth quarter. Waterloo Capital L.P. now owns 12,142 shares of the company’s stock valued at $1,882,000 after acquiring an additional 10,333 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $26,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.6 %

Shares of NYSE:ABBV traded down $1.16 during midday trading on Friday, reaching $194.29. The company’s stock had a trading volume of 4,749,856 shares, compared to its average volume of 5,336,546. The firm has a market cap of $343.09 billion, a price-to-earnings ratio of 57.65, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The business has a 50 day moving average price of $193.35 and a 200 day moving average price of $176.85.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the business earned $2.91 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts forecast 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 dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ABBV shares. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Morgan Stanley raised their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler raised their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $191.64.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 446,599 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

About AbbVie

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.