Valmark Advisers Inc. Has $1.48 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Valmark Advisers Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,483 shares of the company’s stock after acquiring an additional 890 shares during the quarter. Valmark Advisers Inc.’s holdings in AbbVie were worth $1,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PBMares Wealth Management LLC raised its holdings in AbbVie by 26.7% in the 3rd quarter. PBMares Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $470,000 after buying an additional 501 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of AbbVie by 1.4% during the third quarter. Farmers & Merchants Investments Inc. now owns 91,090 shares of the company’s stock valued at $17,988,000 after acquiring an additional 1,299 shares during the last quarter. MONECO Advisors LLC lifted its holdings in shares of AbbVie by 6.1% during the third quarter. MONECO Advisors LLC now owns 14,494 shares of the company’s stock worth $2,862,000 after purchasing an additional 836 shares during the period. Fortitude Family Office LLC grew its stake in shares of AbbVie by 150.4% in the third quarter. Fortitude Family Office LLC now owns 10,259 shares of the company’s stock worth $2,026,000 after purchasing an additional 6,162 shares during the last quarter. Finally, Gateway Wealth Partners LLC increased its holdings in AbbVie by 3.1% in the third quarter. Gateway Wealth Partners LLC now owns 2,786 shares of the company’s stock valued at $550,000 after purchasing an additional 83 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1 %

NYSE:ABBV opened at $189.50 on Wednesday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a market cap of $334.63 billion, a PE ratio of 56.23, a PEG ratio of 2.66 and a beta of 0.63. The firm has a 50-day moving average of $193.75 and a 200-day moving average of $178.75.

AbbVie Announces Dividend

The business also recently disclosed 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. This represents a $6.20 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Wells Fargo & Company raised 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. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $199.39.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

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.