Crew Capital Management Ltd. Has $688,000 Stake in AbbVie Inc. (NYSE:ABBV)

Crew Capital Management Ltd. trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,486 shares of the company’s stock after selling 101 shares during the period. Crew Capital Management Ltd.’s holdings in AbbVie were worth $688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the second quarter valued at $27,000. Quest Partners LLC boosted its position in 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 during the last quarter. Redmont Wealth Advisors LLC bought a new stake in AbbVie during the first quarter valued at $37,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 1.1 %

NYSE:ABBV traded down $2.07 on Monday, hitting $186.79. The stock had a trading volume of 1,241,998 shares, compared to its average volume of 5,280,825. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a market cap of $329.85 billion, a P/E ratio of 55.78, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm’s fifty day simple moving average is $194.44 and its two-hundred day simple moving average is $177.74.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during 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 last year, the business posted $2.91 EPS. Analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.32%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABBV. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets increased their price objective on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, UBS Group increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Four 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.47.

AbbVie 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.