Pacific Sage Partners LLC Sells 86 Shares of AbbVie Inc. (NYSE:ABBV)

Pacific Sage Partners LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,180 shares of the company’s stock after selling 86 shares during the quarter. Pacific Sage Partners LLC’s holdings in AbbVie were worth $233,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the second quarter worth $27,000. Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter worth $39,000. Quest Partners LLC lifted its holdings in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Finally, Burkett Financial Services LLC lifted its holdings in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after acquiring an additional 82 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $203.87 on Friday. The firm has a market capitalization of $360.10 billion, a price-to-earnings ratio of 70.79, a P/E/G ratio of 2.76 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.32. The stock has a fifty day moving average of $194.00 and a 200 day moving average of $179.09. 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 results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.9 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.22%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America lifted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen raised their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Morgan Stanley raised their target price on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial raised their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

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.