Zhang Financial LLC Purchases 406 Shares of AbbVie Inc. (NYSE:ABBV)

Zhang Financial LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,004 shares of the company’s stock after acquiring an additional 406 shares during the quarter. Zhang Financial LLC’s holdings in AbbVie were worth $2,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Pine Haven Investment Counsel Inc lifted its holdings in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares in the last quarter. First Citizens Financial Corp lifted its holdings in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares in the last quarter. Sunflower Bank N.A. lifted its holdings in shares of AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC lifted its holdings in shares of AbbVie by 3.4% in the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after buying an additional 54 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at $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 link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. Truist Financial upped their price target 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. BMO Capital Markets upped their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two research 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. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $198.00.

AbbVie Stock Down 1.5 %

Shares of ABBV stock traded down $2.91 during mid-day trading on Tuesday, hitting $192.74. 2,868,185 shares of the stock traded hands, compared to its average volume of 5,284,305. The stock has a market cap of $340.35 billion, a P/E ratio of 58.12, a P/E/G ratio of 2.66 and a beta of 0.63. The stock’s fifty day moving average is $194.31 and its two-hundred day moving average is $177.47. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. 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 announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $2.91 EPS. Equities 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. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.22%. AbbVie’s dividend payout ratio (DPR) is presently 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.