Catalyst Financial Partners LLC Buys 173 Shares of AbbVie Inc. (NYSE:ABBV)

Catalyst Financial Partners LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,469 shares of the company’s stock after acquiring an additional 173 shares during the quarter. Catalyst Financial Partners LLC’s holdings in AbbVie were worth $2,462,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ABBV. FCG Investment Co bought a new stake in AbbVie during the 1st quarter valued at approximately $1,413,000. Palisade Asset Management LLC boosted its stake in AbbVie by 65.6% during the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock valued at $17,726,000 after purchasing an additional 38,562 shares during the period. First Hawaiian Bank boosted its stake in AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the period. PGGM Investments raised its holdings in AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after acquiring an additional 24,756 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. acquired a new position in AbbVie in the 2nd quarter valued at approximately $1,349,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ABBV shares. TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. BMO Capital Markets upped their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Finally, Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Four investment 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. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $199.39.

AbbVie Price Performance

Shares of ABBV stock opened at $201.55 on Thursday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $202.35. The stock has a market capitalization of $355.91 billion, a PE ratio of 59.81, a PEG ratio of 2.66 and a beta of 0.63. 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’s fifty day moving average is $193.85 and its 200-day moving average is $178.91.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 183.98%.

Insiders Place Their Bets

In other 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 value of $12,403,580.00. Following the completion of the sale, the chairman now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.