Winch Advisory Services LLC Purchases 105 Shares of AbbVie Inc. (NYSE:ABBV)

Winch Advisory Services LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 15.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 797 shares of the company’s stock after purchasing an additional 105 shares during the quarter. Winch Advisory Services LLC’s holdings in AbbVie were worth $157,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $39,000. Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie during the 1st quarter valued at $37,000. Finally, Quest Partners LLC lifted its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s 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 $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.2 %

Shares of ABBV stock opened at $186.62 on Tuesday. The stock has a market cap of $329.55 billion, a price-to-earnings ratio of 55.38, a PEG ratio of 2.66 and a beta of 0.63. The stock has a 50-day moving average of $194.37 and a 200-day moving average of $177.88. 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 issued its quarterly 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 during 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.91 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.32%. AbbVie’s payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. BMO Capital Markets upped their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Bank of America boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.47.

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.