AbbVie Inc. (NYSE:ABBV) Stock Holdings Decreased by Searle & CO.

Searle & CO. cut its stake in AbbVie Inc. (NYSE:ABBV) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,377 shares of the company’s stock after selling 4,897 shares during the period. AbbVie comprises about 2.3% of Searle & CO.’s holdings, making the stock its 5th largest holding. Searle & CO.’s holdings in AbbVie were worth $9,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the 2nd quarter worth about $27,000. Quest Partners LLC increased its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $37,000. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. BMO Capital Markets boosted their price target on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Truist Financial raised their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group boosted their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

AbbVie Stock Performance

AbbVie stock traded down $1.04 during trading hours on Wednesday, reaching $187.72. 979,913 shares of the stock were exchanged, compared to its average volume of 5,270,983. The stock has a market cap of $331.49 billion, a P/E ratio of 55.86, a P/E/G ratio of 2.66 and a beta of 0.63. The firm’s 50 day moving average is $194.32 and its 200 day moving average is $178.01. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.

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

AbbVie Dividend Announcement

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 given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.30%. AbbVie’s payout ratio is currently 183.98%.

AbbVie Company Profile

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.