TFG Advisers LLC Sells 207 Shares of AbbVie Inc. (NYSE:ABBV)

TFG Advisers LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,719 shares of the company’s stock after selling 207 shares during the period. AbbVie comprises 1.5% of TFG Advisers LLC’s investment portfolio, making the stock its 10th biggest position. TFG Advisers LLC’s holdings in AbbVie were worth $4,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Kwmg LLC purchased a new stake in AbbVie in the first quarter valued at $227,000. Sound Income Strategies LLC lifted its holdings in shares of AbbVie by 9.8% in the 1st 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 boosted its position in shares of AbbVie by 4.0% during the 1st quarter. Mcdonald Partners LLC now owns 23,377 shares of the company’s stock worth $4,257,000 after purchasing an additional 898 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in AbbVie by 1.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 19,232 shares of the company’s stock valued at $3,502,000 after purchasing an additional 274 shares during the last quarter. Finally, Windsor Capital Management LLC lifted 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 purchasing an additional 116 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABBV. Piper Sandler boosted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Truist Financial raised their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group upped their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Four investment 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 company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $0.34 during midday trading on Wednesday, reaching $188.42. 651,151 shares of the company were exchanged, compared to its average volume of 5,268,138. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The stock has a fifty day simple moving average of $194.32 and a 200 day simple moving average of $178.01. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a market cap of $332.72 billion, a P/E ratio of 56.02, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.91 EPS. On average, research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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 dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Activity at AbbVie

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. 0.25% of the stock is owned by corporate insiders.

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.