AbbVie Inc. (NYSE:ABBV) Shares Purchased by Integris Wealth Management LLC

Integris Wealth Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,905 shares of the company’s stock after acquiring an additional 312 shares during the quarter. Integris Wealth Management LLC’s holdings in AbbVie were worth $969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. West Coast Financial LLC raised its holdings in AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after acquiring an additional 140 shares during the last quarter. FCG Investment Co purchased a new stake in shares of AbbVie in the first quarter valued at $1,413,000. BluePath Capital Management LLC increased its stake in AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after purchasing an additional 67 shares during the last quarter. Palisade Asset Management LLC lifted its position in AbbVie by 65.6% during the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after buying an additional 38,562 shares during the period. Finally, First Hawaiian Bank boosted its stake in AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after buying an additional 2,657 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ABBV shares. BMO Capital Markets upped their price objective on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley upped their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. TD Cowen increased their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Barclays boosted their price objective 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, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Stock Performance

AbbVie stock opened at $188.86 on Friday. The firm has a market capitalization of $333.50 billion, a PE ratio of 56.04, a price-to-earnings-growth 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. The stock’s 50 day moving average price is $194.44 and its 200 day moving average price is $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.

AbbVie (NYSE:ABBV) last posted its earnings results 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 for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.91 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.28%. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 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 link. 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.