Hengehold Capital Management LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Hengehold Capital Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,397 shares of the company’s stock after buying an additional 479 shares during the period. Hengehold Capital Management LLC’s holdings in AbbVie were worth $5,213,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $37,000. Finally, Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ABBV. Piper Sandler lifted their price target 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. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday. They issued a “market perform” rating and a $203.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.31.

AbbVie Trading Down 0.1 %

Shares of AbbVie stock opened at $190.36 on Thursday. The firm has a 50-day simple moving average of $194.50 and a two-hundred day simple moving average of $177.63. The company has a market cap of $336.15 billion, a P/E ratio of 56.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. 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.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Buying and Selling

In related 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 transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $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 the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Company 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.