Shepherd Financial Partners LLC Buys 503 Shares of AbbVie Inc. (NYSE:ABBV)

Shepherd Financial Partners LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,888 shares of the company’s stock after buying an additional 503 shares during the period. AbbVie makes up about 0.6% of Shepherd Financial Partners LLC’s investment portfolio, making the stock its 29th biggest position. Shepherd Financial Partners LLC’s holdings in AbbVie were worth $4,915,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. Palisade Asset Management LLC grew its position in shares of AbbVie by 65.6% in the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock valued at $17,726,000 after acquiring an additional 38,562 shares during the period. First Hawaiian Bank grew its holdings in shares of AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the last quarter. PGGM Investments grew its holdings in AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after acquiring an additional 24,756 shares during the last quarter. Foresight Capital Management Advisors Inc. bought a new stake in AbbVie during the 2nd quarter worth approximately $1,349,000. Finally, Sumitomo Life Insurance Co. grew its holdings in AbbVie by 29.6% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock worth $5,333,000 after acquiring an additional 6,161 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABBV. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Bank of America boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of AbbVie stock traded down $0.16 on Friday, reaching $203.71. The stock had a trading volume of 1,160,948 shares, compared to its average volume of 5,313,679. The business’s 50 day moving average is $194.00 and its two-hundred day moving average is $179.09. The company has a market cap of $359.82 billion, a P/E ratio of 70.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. 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 $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $2.95 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 10.9 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

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.