AbbVie Inc. (NYSE:ABBV) Stock Holdings Decreased by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 4.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 39,580 shares of the company’s stock after selling 1,850 shares during the period. AbbVie accounts for approximately 4.0% of Carolina Wealth Advisors LLC’s holdings, making the stock its 5th biggest position. Carolina Wealth Advisors LLC’s holdings in AbbVie were worth $7,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. Northwest Investment Counselors LLC purchased a new stake in AbbVie during the 3rd quarter valued at approximately $208,000. Berry Wealth Group LP boosted its position in shares of AbbVie by 2.7% during the third quarter. Berry Wealth Group LP now owns 2,448 shares of the company’s stock worth $483,000 after acquiring an additional 64 shares during the last quarter. Bellecapital International Ltd. grew its stake in AbbVie by 0.4% during the third quarter. Bellecapital International Ltd. now owns 57,938 shares of the company’s stock valued at $11,442,000 after acquiring an additional 220 shares in the last quarter. Koss Olinger Consulting LLC increased its holdings in AbbVie by 18.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 2,566 shares of the company’s stock valued at $507,000 after acquiring an additional 400 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its stake in AbbVie by 0.7% in the 3rd quarter. Violich Capital Management Inc. now owns 117,261 shares of the company’s stock worth $23,157,000 after purchasing an additional 775 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 1.0 %

AbbVie stock traded down $1.87 during midday trading on Monday, reaching $186.99. The stock had a trading volume of 2,309,445 shares, compared to its average volume of 5,286,104. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a fifty day moving average of $194.44 and a 200 day moving average of $177.74. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The firm has a market cap of $330.20 billion, a price-to-earnings ratio of 55.78, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.32%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred 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 owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was 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 the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of AbbVie in a report on Thursday. They issued a “market perform” rating and a $203.00 target price for the company. Finally, UBS Group upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $198.47.

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.