AbbVie Inc. (NYSE:ABBV) Shares Sold by DeDora Capital Inc.

DeDora Capital Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,180 shares of the company’s stock after selling 61 shares during the period. AbbVie comprises 0.9% of DeDora Capital Inc.’s portfolio, making the stock its 28th largest position. DeDora Capital Inc.’s holdings in AbbVie were worth $3,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. AdvisorNet Financial Inc grew its stake in shares of AbbVie by 28.4% in the 1st quarter. AdvisorNet Financial Inc now owns 4,524 shares of the company’s stock worth $824,000 after purchasing an additional 1,000 shares during the last quarter. West Coast Financial LLC raised its position in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares during the period. Community Bank of Raymore boosted its stake in AbbVie by 2.7% during the first quarter. Community Bank of Raymore now owns 22,648 shares of the company’s stock worth $4,124,000 after buying an additional 600 shares in the last quarter. New England Professional Planning Group Inc. bought a new position in shares of AbbVie during the first quarter valued at $228,000. Finally, Hoxton Planning & Management LLC boosted its holdings in shares of AbbVie by 11.8% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,537 shares of the company’s stock worth $280,000 after acquiring an additional 162 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie 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 transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABBV shares. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four equities research 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 company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $198.47.

AbbVie Stock Up 0.1 %

Shares of NYSE ABBV traded up $0.15 during trading on Tuesday, hitting $186.69. The stock had a trading volume of 197,952 shares, compared to its average volume of 5,272,350. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The firm has a fifty day moving average of $194.37 and a two-hundred day moving average of $177.88. The company has a market capitalization of $329.67 billion, a PE ratio of 55.38, a PEG 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, 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 firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.91 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

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.