AbbVie Inc. (NYSE:ABBV) Shares Bought by Means Investment CO. Inc.

Means Investment CO. Inc. grew its stake in AbbVie Inc. (NYSE:ABBV) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,697 shares of the company’s stock after purchasing an additional 143 shares during the period. Means Investment CO. Inc.’s holdings in AbbVie were worth $5,470,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. MJP Associates Inc. ADV lifted its holdings in shares of AbbVie by 17.7% in the 1st quarter. MJP Associates Inc. ADV now owns 4,899 shares of the company’s stock valued at $892,000 after buying an additional 736 shares during the period. Sanders Morris Harris LLC boosted its position in shares of AbbVie by 17.4% during the 1st quarter. Sanders Morris Harris LLC now owns 22,891 shares of the company’s stock worth $4,168,000 after purchasing an additional 3,393 shares in the last quarter. Matthew Goff Investment Advisor LLC grew its stake in shares of AbbVie by 0.5% during the 1st quarter. Matthew Goff Investment Advisor LLC now owns 17,509 shares of the company’s stock worth $3,188,000 after purchasing an additional 92 shares during the period. &PARTNERS increased its holdings in shares of AbbVie by 79.4% in the 1st quarter. &PARTNERS now owns 14,788 shares of the company’s stock valued at $2,693,000 after purchasing an additional 6,544 shares in the last quarter. Finally, City State Bank lifted its stake in shares of AbbVie by 0.8% in the first quarter. City State Bank now owns 9,990 shares of the company’s stock valued at $1,819,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABBV. Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. UBS Group upped their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Stock Up 0.2 %

ABBV stock opened at $188.86 on Friday. The company has a 50 day moving average price of $194.44 and a two-hundred day moving average price of $177.74. 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 capitalization of $333.50 billion, a P/E ratio of 56.04, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.28%. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.