Wynn Capital LLC Acquires 170 Shares of AbbVie Inc. (NYSE:ABBV)

Wynn Capital LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,520 shares of the company’s stock after acquiring an additional 170 shares during the period. AbbVie comprises 1.1% of Wynn Capital LLC’s portfolio, making the stock its 27th biggest position. Wynn Capital LLC’s holdings in AbbVie were worth $1,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of AbbVie by 44.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 109,970 shares of the company’s stock worth $21,704,000 after acquiring an additional 33,785 shares during the last quarter. Iowa State Bank raised its position in AbbVie by 3.5% during the 3rd quarter. Iowa State Bank now owns 53,097 shares of the company’s stock valued at $10,486,000 after purchasing an additional 1,809 shares in the last quarter. Pacific Sun Financial Corp bought a new stake in AbbVie during the 3rd quarter valued at $224,000. Pine Haven Investment Counsel Inc raised its position in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares in the last quarter. Finally, Castle Rock Wealth Management LLC raised its position in AbbVie by 1.8% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,797 shares of the company’s stock valued at $1,322,000 after purchasing an additional 119 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Wells Fargo & Company lifted their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $198.00.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.1 %

Shares of ABBV stock opened at $194.21 on Friday. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The stock’s fifty day moving average price is $194.08 and its 200 day moving average price is $177.41. 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 $342.95 billion, a price-to-earnings ratio of 57.63, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $2.91 EPS. On average, research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s payout ratio is presently 183.98%.

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.