Sivia Capital Partners LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Sivia Capital Partners LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,493 shares of the company’s stock after purchasing an additional 98 shares during the period. Sivia Capital Partners LLC’s holdings in AbbVie were worth $887,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc lifted its holdings in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares during the period. Frisch Financial Group Inc. boosted its stake in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares in the last quarter. First Citizens Financial Corp grew its holdings in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after acquiring an additional 53 shares during the last quarter. Sunflower Bank N.A. raised its position in shares of AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after purchasing an additional 53 shares during the period. Finally, Professional Financial Advisors LLC lifted its holdings in shares of AbbVie by 3.4% during the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. 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 business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This 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.

AbbVie Stock Performance

NYSE:ABBV opened at $195.86 on Tuesday. The firm’s 50-day moving average is $194.31 and its 200-day moving average is $177.47. The company has a market cap of $345.86 billion, a price-to-earnings ratio of 58.12, a PEG ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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. The company had revenue of $14.46 billion for 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%. AbbVie’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.91 EPS. Equities research analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

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 paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.17%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABBV. TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Truist Financial lifted their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group upped their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $198.00.

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.