AbbVie Inc. (NYSE:ABBV) Shares Bought by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,469 shares of the company’s stock after acquiring an additional 173 shares during the quarter. Catalyst Financial Partners LLC’s holdings in AbbVie were worth $2,462,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. Community Bank & Trust Waco Texas boosted its position in AbbVie by 0.6% during the 1st quarter. Community Bank & Trust Waco Texas now owns 35,315 shares of the company’s stock worth $6,431,000 after acquiring an additional 227 shares during the period. Norden Group LLC lifted its holdings in shares of AbbVie by 2,055.1% in the first quarter. Norden Group LLC now owns 139,587 shares of the company’s stock valued at $25,421,000 after buying an additional 133,110 shares during the period. Abundance Wealth Counselors lifted its holdings in shares of AbbVie by 0.9% in the first quarter. Abundance Wealth Counselors now owns 17,830 shares of the company’s stock valued at $3,247,000 after buying an additional 162 shares during the period. Madrona Financial Services LLC lifted its holdings in shares of AbbVie by 82.9% in the first quarter. Madrona Financial Services LLC now owns 3,311 shares of the company’s stock valued at $603,000 after buying an additional 1,501 shares during the period. Finally, Arcus Capital Partners LLC lifted its holdings in shares of AbbVie by 22.5% in the first quarter. Arcus Capital Partners LLC now owns 4,404 shares of the company’s stock valued at $802,000 after buying an additional 808 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABBV. TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. UBS Group upped their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Citigroup boosted their target price on AbbVie from $170.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Four 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 company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $199.39.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 6.4 %

NYSE:ABBV opened at $201.55 on Thursday. The firm has a market capitalization of $355.91 billion, a price-to-earnings ratio of 59.81, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $202.35. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The business’s fifty day moving average price is $193.85 and its 200 day moving average price is $178.91.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 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 analyst estimates of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.25%. AbbVie’s dividend payout ratio is presently 183.98%.

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.