Bard Financial Services Inc. Has $4.82 Million Stake in AbbVie Inc. (NYSE:ABBV)

Bard Financial Services Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 67.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,430 shares of the company’s stock after selling 50,325 shares during the quarter. Bard Financial Services Inc.’s holdings in AbbVie were worth $4,824,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ABBV. 1832 Asset Management L.P. grew its holdings in shares of AbbVie by 1.5% during the fourth 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 last quarter. Morningstar Investment Services LLC raised its holdings in shares of AbbVie by 110.6% in the 4th quarter. Morningstar Investment Services LLC now owns 10,694 shares of the company’s stock worth $1,655,000 after purchasing an additional 5,616 shares during the period. Wealth Quarterback LLC lifted its position in shares of AbbVie by 2.1% during the 4th quarter. Wealth Quarterback LLC now owns 8,280 shares of the company’s stock valued at $1,283,000 after buying an additional 174 shares during the last quarter. Waterloo Capital L.P. lifted its holdings 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 purchasing an additional 10,333 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at approximately $26,000. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial reissued a “buy” rating and set a $210.00 target price (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Barclays increased their price objective on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Morgan Stanley increased their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $191.64.

AbbVie Stock Performance

ABBV traded down $1.16 during trading on Friday, hitting $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 PE ratio of 57.65, a P/E/G 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. The business’s 50 day simple moving average is $193.35 and its 200-day simple moving average is $176.85. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.91 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The sale 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 AbbVie stock in a transaction that occurred on 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 transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $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 owned by company insiders.

AbbVie 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.