HFG Advisors Inc. Invests $205,000 in AbbVie Inc. (NYSE:ABBV)

HFG Advisors Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,038 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Wellington Management Group LLP grew its holdings in AbbVie by 128.5% during the 4th quarter. Wellington Management Group LLP now owns 954,374 shares of the company’s stock worth $147,899,000 after acquiring an additional 536,730 shares in the last quarter. Signal Advisors Wealth LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $332,000. Bruce G. Allen Investments LLC boosted its holdings in shares of AbbVie by 9.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 2,749 shares of the company’s stock valued at $501,000 after buying an additional 241 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of AbbVie by 18.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 52,244 shares of the company’s stock valued at $9,513,000 after buying an additional 8,122 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in shares of AbbVie by 4.8% in the 1st quarter. Wedmont Private Capital now owns 18,496 shares of the company’s stock valued at $3,147,000 after buying an additional 851 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. UBS Group raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.69.

AbbVie Price Performance

Shares of NYSE ABBV opened at $188.57 on Friday. The stock has a market capitalization of $332.99 billion, a price-to-earnings ratio of 55.96, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The firm’s 50 day simple moving average is $194.46 and its 200-day simple moving average is $177.70. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $2.91 EPS. Analysts expect that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. AbbVie’s payout ratio is 183.98%.

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.