Vanguard Capital Wealth Advisors Sells 638 Shares of AbbVie Inc. (NYSE:ABBV)

Vanguard Capital Wealth Advisors reduced its stake in AbbVie Inc. (NYSE:ABBV) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,713 shares of the company’s stock after selling 638 shares during the period. AbbVie makes up approximately 0.8% of Vanguard Capital Wealth Advisors’ holdings, making the stock its 28th largest holding. Vanguard Capital Wealth Advisors’ holdings in AbbVie were worth $733,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its position in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in AbbVie during the 1st quarter worth approximately $37,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $39,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen increased 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, BMO Capital Markets upped their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.39.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

ABBV stock opened at $189.50 on Wednesday. The business’s fifty day moving average is $193.75 and its 200-day moving average is $178.75. 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 company has a market cap of $334.63 billion, a P/E ratio of 56.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 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.