AbbVie Inc. (NYSE:ABBV) Shares Bought by Pine Haven Investment Counsel Inc

Pine Haven Investment Counsel Inc lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,102 shares of the company’s stock after buying an additional 52 shares during the period. AbbVie accounts for about 2.9% of Pine Haven Investment Counsel Inc’s investment portfolio, making the stock its 6th biggest holding. Pine Haven Investment Counsel Inc’s holdings in AbbVie were worth $3,575,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the 2nd quarter worth $27,000. IFS Advisors LLC purchased a new position in AbbVie during the 1st quarter worth $36,000. Marquette Asset Management LLC purchased a new position in AbbVie during the 3rd quarter worth $39,000. Finally, Redmont Wealth Advisors LLC purchased a new position in AbbVie during the 1st quarter worth $37,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of AbbVie stock traded down $0.26 during midday trading on Friday, reaching $194.09. 862,904 shares of the company’s stock traded hands, compared to its average volume of 5,294,286. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market cap of $342.83 billion, a PE ratio of 64.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The stock has a 50 day moving average of $193.98 and a 200-day moving average of $177.30. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The company had revenue of $14.46 billion during 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 firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. AbbVie’s dividend payout ratio (DPR) is 206.67%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.00.

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.