AbbVie Inc. (NYSE:ABBV) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 41.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,773 shares of the company’s stock after selling 1,251 shares during the period. Financial Partners Group LLC’s holdings in AbbVie were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter valued at about $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the 3rd quarter valued at approximately $39,000. Redmont Wealth Advisors LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $37,000. Finally, Quest Partners LLC grew its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Wells Fargo & Company boosted their price target 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. Finally, Barclays increased their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Four equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.47.

AbbVie Trading Up 1.0 %

NYSE:ABBV opened at $189.68 on Friday. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The stock has a fifty day simple moving average of $194.22 and a 200-day simple moving average of $178.08. The company has a market capitalization of $334.95 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results 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. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the business posted $2.91 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm 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 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 (DPR) is 183.98%.

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.