AbbVie Inc. (NYSE:ABBV) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,305 shares of the company’s stock after selling 147 shares during the quarter. AbbVie makes up approximately 1.9% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 9th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in AbbVie were worth $5,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Creative Planning grew its stake in shares of AbbVie by 5.8% during the 3rd quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after buying an additional 40,925 shares during the period. CX Institutional boosted its holdings in AbbVie by 19.0% in the third quarter. CX Institutional now owns 70,374 shares of the company’s stock valued at $13,897,000 after acquiring an additional 11,227 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in AbbVie during the third quarter valued at about $46,000. Sivia Capital Partners LLC increased its stake in AbbVie by 2.2% during the third quarter. Sivia Capital Partners LLC now owns 4,493 shares of the company’s stock worth $887,000 after acquiring an additional 98 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of AbbVie by 1.2% in the 3rd quarter. Grove Bank & Trust now owns 12,859 shares of the company’s stock worth $2,539,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $195.86 on Tuesday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week 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 has a market cap of $345.86 billion, a P/E ratio of 58.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The stock has a 50 day moving average of $194.31 and a 200-day moving average of $177.47.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 EPS. On average, analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABBV. Morgan Stanley increased their target price 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. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets lifted their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $198.00.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

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.