AbbVie Inc. (NYSE:ABBV) Shares Sold by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 62.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,068 shares of the company’s stock after selling 25,030 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in AbbVie were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goepper Burkhardt LLC boosted its stake in shares of AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after buying an additional 67 shares during the last quarter. Delta Financial Group Inc. boosted its stake in shares of AbbVie by 1.2% during the 1st quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock worth $917,000 after buying an additional 68 shares during the last quarter. Sand Hill Global Advisors LLC boosted its stake in shares of AbbVie by 0.4% during the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock worth $2,989,000 after buying an additional 68 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in shares of AbbVie by 0.6% during the 1st quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock worth $1,963,000 after buying an additional 70 shares during the last quarter. Finally, Sonen Capital LLC raised its holdings in shares of AbbVie by 4.8% in the 1st quarter. Sonen Capital LLC now owns 1,537 shares of the company’s stock valued at $245,000 after purchasing an additional 70 shares during the period. 67.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at approximately $93,262,600.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

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ABBV has been the topic of several research analyst reports. TheStreet raised shares of AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. HSBC began coverage on shares of AbbVie in a research note on Friday, July 14th. They set a “buy” rating and a $167.00 price target for the company. Piper Sandler Companies lifted their target price on shares of AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com began coverage on shares of AbbVie in a research note on Thursday, October 5th. They set a “strong-buy” rating for the company. Finally, Morgan Stanley lifted their target price on shares of AbbVie from $189.00 to $193.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

View Our Latest Stock Report on AbbVie

AbbVie Trading Down 0.0 %

Shares of ABBV stock opened at $145.20 on Friday. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $168.11. The company has a debt-to-equity ratio of 4.33, a quick ratio of 0.77 and a current ratio of 0.89. The company has a 50-day simple moving average of $149.05 and a two-hundred day simple moving average of $146.24. The company has a market capitalization of $256.29 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.64 and a beta of 0.56.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.08. AbbVie had a net margin of 15.50% and a return on equity of 151.29%. The business had revenue of $13.93 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same period in the prior year, the firm posted $3.66 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 11.01 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is 121.81%.

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.