AbbVie Inc. (NYSE:ABBV) Shares Purchased by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,322 shares of the company’s stock after buying an additional 1,087 shares during the period. Sterling Investment Counsel LLC’s holdings in AbbVie were worth $1,643,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kwmg LLC acquired a new position in AbbVie in the first quarter valued at $227,000. Sound Income Strategies LLC increased its stake in AbbVie by 9.8% during the first quarter. Sound Income Strategies LLC now owns 102,264 shares of the company’s stock worth $18,622,000 after acquiring an additional 9,140 shares during the last quarter. Mcdonald Partners LLC increased its stake in AbbVie by 4.0% during the first quarter. Mcdonald Partners LLC now owns 23,377 shares of the company’s stock worth $4,257,000 after acquiring an additional 898 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in AbbVie by 1.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 19,232 shares of the company’s stock worth $3,502,000 after acquiring an additional 274 shares during the last quarter. Finally, Windsor Capital Management LLC increased its stake in AbbVie by 5.0% during the first quarter. Windsor Capital Management LLC now owns 2,425 shares of the company’s stock worth $442,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. TD Cowen upped their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. UBS Group increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial increased their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Four investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.47.

AbbVie Stock Down 0.5 %

NYSE:ABBV traded down $0.91 during trading hours on Wednesday, reaching $187.85. The company’s stock had a trading volume of 900,636 shares, compared to its average volume of 5,270,597. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The business’s 50-day moving average is $194.32 and its 200-day moving average is $178.01. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market cap of $331.72 billion, a price-to-earnings ratio of 55.86, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 earnings per share. Equities research analysts predict that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

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.