AbbVie Inc. (NYSE:ABBV) Stock Position Trimmed by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp decreased its position in AbbVie Inc. (NYSE:ABBV) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,330 shares of the company’s stock after selling 455 shares during the period. AbbVie makes up approximately 1.0% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 27th largest position. MADDEN SECURITIES Corp’s holdings in AbbVie were worth $2,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Optimist Retirement Group LLC bought a new stake in shares of AbbVie during the fourth quarter valued at about $2,003,000. Wealthquest Corp raised its position in shares of AbbVie by 3.1% during the 4th quarter. Wealthquest Corp now owns 6,988 shares of the company’s stock worth $1,083,000 after buying an additional 208 shares in the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $42,000. Security National Bank of SO Dak boosted its holdings in shares of AbbVie by 0.6% in the fourth quarter. Security National Bank of SO Dak now owns 16,052 shares of the company’s stock valued at $2,488,000 after acquiring an additional 102 shares in the last quarter. Finally, Oarsman Capital Inc. increased its stake in shares of AbbVie by 3.5% during the fourth quarter. Oarsman Capital Inc. now owns 23,288 shares of the company’s stock valued at $3,609,000 after acquiring an additional 797 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on 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 completion of the sale, the chairman now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 transaction, the chairman now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’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 completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. This 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 currently owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV stock opened at $194.21 on Friday. The company has a market capitalization of $343.04 billion, a price-to-earnings ratio of 64.74, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock’s fifty day simple moving average is $194.08 and its 200-day simple moving average is $177.41.

AbbVie (NYSE:ABBV) last released its 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 company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.91 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 206.67%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Finally, William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $198.00.

About AbbVie

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.