Well Done LLC Has $9.80 Million Stake in AbbVie Inc. (NYSE:ABBV)

Well Done LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,605 shares of the company’s stock after purchasing an additional 69 shares during the quarter. AbbVie makes up 1.8% of Well Done LLC’s holdings, making the stock its 10th largest position. Well Done LLC’s holdings in AbbVie were worth $9,796,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CHB Investment Group LLC bought a new stake in AbbVie in the 3rd quarter valued at $444,000. Sax Wealth Advisors LLC raised its position in shares of AbbVie by 5.7% in the third quarter. Sax Wealth Advisors LLC now owns 5,784 shares of the company’s stock valued at $1,142,000 after purchasing an additional 314 shares during the period. BCS Wealth Management lifted its stake in shares of AbbVie by 1.6% during the 3rd quarter. BCS Wealth Management now owns 5,798 shares of the company’s stock worth $1,145,000 after buying an additional 92 shares during the last quarter. Kozak & Associates Inc. boosted its holdings in shares of AbbVie by 14.3% during the 3rd quarter. Kozak & Associates Inc. now owns 1,682 shares of the company’s stock worth $320,000 after buying an additional 211 shares during the period. Finally, Howard Capital Management Group LLC grew its stake in AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $188.87 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The stock has a market capitalization of $333.52 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The stock has a fifty day moving average of $194.44 and a 200-day moving average of $177.76.

AbbVie (NYSE:ABBV) last issued its 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. The firm 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 business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.28%. AbbVie’s payout ratio is presently 183.98%.

Insider Transactions at AbbVie

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

Analysts Set New Price Targets

Several equities analysts have recently commented on ABBV shares. UBS Group upped their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial upped their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets lifted their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday. They issued a “market perform” rating and a $203.00 price target on the stock. Finally, Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $198.47.

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.