Sensible Money LLC Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Sensible Money LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 23.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,020 shares of the company’s stock after selling 308 shares during the quarter. Sensible Money LLC’s holdings in AbbVie were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the second quarter worth approximately $27,000. Quest Partners LLC increased its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Redmont Wealth Advisors LLC bought a new stake in AbbVie during the 1st quarter valued at $37,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth $39,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.1 %

Shares of ABBV stock opened at $190.36 on Thursday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The firm has a market capitalization of $336.15 billion, a PE ratio of 56.52, a P/E/G ratio of 2.66 and a beta of 0.63. 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’s 50-day simple moving average is $194.50 and its 200-day simple moving average is $177.63.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Activity

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 sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABBV shares. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets raised their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Finally, UBS Group upped their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.31.

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.