Crew Capital Management Ltd. Has $688,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Crew Capital Management Ltd. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,486 shares of the company’s stock after selling 101 shares during the quarter. Crew Capital Management Ltd.’s holdings in AbbVie were worth $688,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Bellecapital International Ltd. increased its position in AbbVie by 0.4% during the third quarter. Bellecapital International Ltd. now owns 57,938 shares of the company’s stock worth $11,442,000 after buying an additional 220 shares during the last quarter. Koss Olinger Consulting LLC boosted its holdings in shares of AbbVie by 18.5% during the third quarter. Koss Olinger Consulting LLC now owns 2,566 shares of the company’s stock worth $507,000 after acquiring an additional 400 shares during the period. Violich Capital Management Inc. boosted its holdings in shares of AbbVie by 0.7% during the third quarter. Violich Capital Management Inc. now owns 117,261 shares of the company’s stock worth $23,157,000 after acquiring an additional 775 shares during the period. Penn Davis Mcfarland Inc. bought a new stake in shares of AbbVie during the third quarter worth approximately $6,110,000. Finally, Brown Lisle Cummings Inc. boosted its holdings in shares of AbbVie by 5.4% during the third quarter. Brown Lisle Cummings Inc. now owns 28,091 shares of the company’s stock worth $5,547,000 after acquiring an additional 1,450 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday. They set a “market perform” rating and a $203.00 price objective for the company. Morgan Stanley boosted their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. BMO Capital Markets boosted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays boosted 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. Finally, William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Four investment 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.47.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV traded down $2.07 on Monday, hitting $186.79. 1,241,998 shares of the company’s stock were exchanged, compared to its average volume of 5,280,825. The stock has a 50-day moving average of $194.44 and a 200-day moving average of $177.74. 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 52 week low of $135.85 and a 52 week high of $199.95. The stock has a market cap of $329.85 billion, a price-to-earnings ratio of 55.78, a P/E/G 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 the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.91 earnings per share. Analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.32%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.