AbbVie Inc. (NYSE:ABBV) is Tsfg LLC’s 4th Largest Position

Tsfg LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,688 shares of the company’s stock after selling 1,632 shares during the period. AbbVie accounts for about 4.5% of Tsfg LLC’s holdings, making the stock its 4th biggest position. Tsfg LLC’s holdings in AbbVie were worth $20,674,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Roberts Wealth Advisors LLC purchased a new stake in AbbVie during the 3rd quarter valued at approximately $234,000. Jamison Private Wealth Management Inc. raised its position in AbbVie by 2.5% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 55,527 shares of the company’s stock worth $10,965,000 after buying an additional 1,346 shares during the last quarter. CCG Wealth Management LLC lifted its stake in shares of AbbVie by 5.2% in the 3rd quarter. CCG Wealth Management LLC now owns 1,694 shares of the company’s stock worth $335,000 after acquiring an additional 84 shares during the period. Acorn Creek Capital LLC boosted its holdings in shares of AbbVie by 2.9% in the third quarter. Acorn Creek Capital LLC now owns 2,342 shares of the company’s stock valued at $463,000 after acquiring an additional 65 shares in the last quarter. Finally, EdgeRock Capital LLC increased its stake in shares of AbbVie by 5.1% during the third quarter. EdgeRock Capital LLC now owns 1,804 shares of the company’s stock worth $356,000 after acquiring an additional 88 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Down 1.1 %

Shares of ABBV opened at $191.86 on Wednesday. The stock has a 50-day moving average price of $194.44 and a 200 day moving average price of $177.54. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a market capitalization of $338.80 billion, a P/E ratio of 56.93, a P/E/G 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 (NYSE:ABBV) last issued its 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. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.91 EPS. Sell-side analysts forecast that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.23%. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ABBV shares. Morgan Stanley lifted their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets increased their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. UBS Group increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.00.

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.