FSC Wealth Advisors LLC Purchases 91 Shares of AbbVie Inc. (NYSE:ABBV)

FSC Wealth Advisors LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,537 shares of the company’s stock after buying an additional 91 shares during the quarter. FSC Wealth Advisors LLC’s holdings in AbbVie were worth $501,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $27,000. Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at approximately $39,000. Redmont Wealth Advisors LLC acquired a new stake in AbbVie in the 1st quarter valued at approximately $37,000. Finally, Quest Partners LLC raised its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABBV. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets boosted their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Bank of America boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

Insider Activity 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 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 $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $188.78 on Wednesday. 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 12 month low of $135.85 and a 12 month high of $199.95. The stock has a 50 day moving average of $194.32 and a 200-day moving average of $178.01. The company has a market capitalization of $333.36 billion, a P/E ratio of 56.02, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. The business 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 firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.28%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.