IVC Wealth Advisors LLC Has $304,000 Stake in AbbVie Inc. (NYSE:ABBV)

IVC Wealth Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,537 shares of the company’s stock after selling 64 shares during the period. IVC Wealth Advisors LLC’s holdings in AbbVie were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Wealth Advisors LLC raised its position in shares of AbbVie by 5.0% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 4,209 shares of the company’s stock valued at $831,000 after acquiring an additional 200 shares during the last quarter. Motiv8 Investments LLC grew its position in shares of AbbVie by 11.7% during the 3rd quarter. Motiv8 Investments LLC now owns 5,499 shares of the company’s stock worth $1,086,000 after buying an additional 577 shares during the period. OMNI 360 Wealth Inc. grew its holdings in AbbVie by 3.4% during the third quarter. OMNI 360 Wealth Inc. now owns 3,048 shares of the company’s stock valued at $602,000 after purchasing an additional 100 shares during the period. J.W. Cole Advisors Inc. increased its stake in AbbVie by 6.2% in the third quarter. J.W. Cole Advisors Inc. now owns 39,143 shares of the company’s stock valued at $7,730,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Fortune Financial Advisors LLC bought a new position in shares of AbbVie during the third quarter worth $205,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Down 0.9 %

ABBV stock opened at $187.85 on Monday. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The stock has a market cap of $331.72 billion, a price-to-earnings ratio of 55.74, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a fifty day moving average price of $194.02 and a two-hundred day moving average price of $178.40. 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 released 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. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the firm earned $2.91 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company 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 dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.30%. AbbVie’s payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ABBV. Wells Fargo & Company lifted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, UBS Group boosted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $199.39.

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.