Fulton Breakefield Broenniman LLC Sells 3,730 Shares of AbbVie Inc. (NYSE:ABBV)

Fulton Breakefield Broenniman LLC cut its position in AbbVie Inc. (NYSE:ABBV) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 90,764 shares of the company’s stock after selling 3,730 shares during the period. AbbVie makes up about 1.3% of Fulton Breakefield Broenniman LLC’s holdings, making the stock its 24th largest holding. Fulton Breakefield Broenniman LLC’s holdings in AbbVie were worth $17,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of AbbVie by 128.5% during the fourth quarter. Wellington Management Group LLP now owns 954,374 shares of the company’s stock worth $147,899,000 after acquiring an additional 536,730 shares in the last quarter. Foster Group Inc. lifted its holdings in AbbVie by 7.2% during the 1st quarter. Foster Group Inc. now owns 8,182 shares of the company’s stock worth $1,490,000 after purchasing an additional 547 shares in the last quarter. New Hampshire Trust boosted its stake in AbbVie by 3.1% in the 1st quarter. New Hampshire Trust now owns 36,357 shares of the company’s stock worth $6,621,000 after purchasing an additional 1,092 shares during the period. Ellenbecker Investment Group boosted its stake in AbbVie by 1.6% in the 1st quarter. Ellenbecker Investment Group now owns 5,979 shares of the company’s stock worth $1,089,000 after purchasing an additional 95 shares during the period. Finally, Safeguard Financial LLC purchased a new position in AbbVie during the 1st quarter valued at about $235,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $190.46 on Thursday. The stock has a market cap of $336.33 billion, a price-to-earnings ratio of 56.52, a P/E/G ratio of 2.66 and a beta of 0.63. The stock’s 50-day moving average is $194.50 and its 200 day moving average is $177.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping 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 the consensus estimate of $14.02 billion. During the same period last year, the firm posted $2.91 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.26%. AbbVie’s payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ABBV. Wells Fargo & Company increased their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Truist Financial boosted their price target on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lifted their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Two 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. According to MarketBeat, AbbVie 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.