Tnf LLC Sells 172 Shares of AbbVie Inc. (NYSE:ABBV)

Tnf LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,510 shares of the company’s stock after selling 172 shares during the period. Tnf LLC’s holdings in AbbVie were worth $286,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of AbbVie during the second quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the second quarter valued at about $27,000. Quest Partners LLC increased its position in shares of AbbVie by 4,140.0% during the second 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 period. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at about $39,000. Finally, Burkett Financial Services LLC increased its position in shares of AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 6.4 %

NYSE:ABBV opened at $201.55 on Thursday. The firm has a market cap of $355.91 billion, a PE ratio of 59.81, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The stock has a fifty day moving average price of $193.85 and a 200 day moving average price of $178.91. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $202.35. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ABBV. Morgan Stanley upped their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Citigroup increased their price objective on AbbVie from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $199.39.

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.