American Institute for Advanced Investment Management LLP Boosts Position in AbbVie Inc. (NYSE:ABBV)

American Institute for Advanced Investment Management LLP boosted its position in AbbVie Inc. (NYSE:ABBV) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,512 shares of the company’s stock after purchasing an additional 101 shares during the period. AbbVie comprises 1.2% of American Institute for Advanced Investment Management LLP’s portfolio, making the stock its 19th biggest holding. American Institute for Advanced Investment Management LLP’s holdings in AbbVie were worth $1,681,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the 2nd quarter worth $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the second quarter valued at about $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter worth about $39,000. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the first quarter worth about $37,000. Finally, Quest Partners LLC lifted 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 buying an additional 207 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley lifted their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Finally, 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. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction 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 trade 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. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.0 %

Shares of ABBV opened at $189.68 on Friday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company’s fifty day moving average is $194.22 and its 200 day moving average is $178.08. The stock has a market capitalization of $334.95 billion, a PE ratio of 56.28, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 EPS. Sell-side analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.27%. AbbVie’s dividend payout ratio is presently 183.98%.

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.