AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Wealth Dimensions Group Ltd.

Wealth Dimensions Group Ltd. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,645 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in AbbVie were worth $797,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. grew its stake in shares of AbbVie by 9.8% in the 4th quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock valued at $1,502,000 after purchasing an additional 861 shares during the period. Aveo Capital Partners LLC lifted its position in shares of AbbVie by 5.1% during the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock worth $666,000 after purchasing an additional 210 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in shares of AbbVie by 1.7% during the fourth quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after acquiring an additional 283 shares during the period. Gryphon Financial Partners LLC grew its position in shares of AbbVie by 1.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock worth $12,972,000 after buying an additional 1,531 shares during the period. Finally, Motco raised its position in shares of AbbVie by 15.7% during the 4th quarter. Motco now owns 1,958 shares of the company’s stock valued at $303,000 after acquiring an additional 265 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.1 %

Shares of NYSE:ABBV opened at $194.21 on Monday. The company has a market cap of $343.04 billion, a price-to-earnings ratio of 57.63, a PEG ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The firm has a fifty day moving average price of $186.83 and a two-hundred day moving average price of $175.22. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 9.71% and a return on equity of 203.66%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $2.91 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Truist Financial reissued a “buy” rating and set a $210.00 price target (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Barclays raised their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Buy” and an average price target of $191.64.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.