AbbVie Inc. (NYSE:ABBV) Holdings Decreased by Vanguard Capital Wealth Advisors

Vanguard Capital Wealth Advisors decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 14.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,713 shares of the company’s stock after selling 638 shares during the quarter. AbbVie accounts for approximately 0.8% of Vanguard Capital Wealth Advisors’ holdings, making the stock its 28th biggest position. Vanguard Capital Wealth Advisors’ holdings in AbbVie were worth $733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fairway Wealth LLC purchased a new position in AbbVie in the second quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in AbbVie in the second quarter valued at about $27,000. Quest Partners LLC grew its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in AbbVie in the first quarter valued at about $37,000. Finally, Marquette Asset Management LLC purchased a new position in AbbVie in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $189.50 on Wednesday. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a market capitalization of $334.63 billion, a PE ratio of 56.23, a P/E/G ratio of 2.66 and a beta of 0.63. The stock has a 50-day simple moving average of $193.75 and a 200 day simple moving average of $178.75.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.27%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analysts Set New Price Targets

A number of research analysts have commented on ABBV shares. Bank of America boosted 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. UBS Group boosted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Finally, BMO Capital Markets boosted their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.39.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

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.