YHB Investment Advisors Inc. Sells 86 Shares of AbbVie Inc. (NYSE:ABBV)

YHB Investment Advisors Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,334 shares of the company’s stock after selling 86 shares during the quarter. YHB Investment Advisors Inc.’s holdings in AbbVie were worth $6,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ABBV. Sovereign Financial Group Inc. boosted its position in shares of AbbVie by 18.6% in the first quarter. Sovereign Financial Group Inc. now owns 3,212 shares of the company’s stock valued at $585,000 after acquiring an additional 503 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of AbbVie by 10.1% in the first quarter. Revolve Wealth Partners LLC now owns 3,083 shares of the company’s stock valued at $561,000 after acquiring an additional 282 shares during the period. DGS Capital Management LLC boosted its position in shares of AbbVie by 33.0% in the first quarter. DGS Capital Management LLC now owns 3,279 shares of the company’s stock valued at $597,000 after acquiring an additional 814 shares during the period. Wealthcare Advisory Partners LLC boosted its position in shares of AbbVie by 23.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 42,837 shares of the company’s stock valued at $7,801,000 after acquiring an additional 8,184 shares during the period. Finally, Signet Financial Management LLC boosted its position in shares of AbbVie by 0.3% in the first quarter. Signet Financial Management LLC now owns 42,664 shares of the company’s stock valued at $7,769,000 after acquiring an additional 128 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $187.87 on Thursday. The business’s 50-day simple moving average is $194.22 and its 200 day simple moving average is $178.08. The stock has a market cap of $331.75 billion, a price-to-earnings ratio of 55.75, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion for 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 firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.91 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent research reports. Piper Sandler upped their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Truist Financial upped their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Bank of America upped their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four investment 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, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $198.47.

AbbVie 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.