Vicus Capital Buys 332 Shares of AbbVie Inc. (NYSE:ABBV)

Vicus Capital lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,347 shares of the company’s stock after buying an additional 332 shares during the quarter. Vicus Capital’s holdings in AbbVie were worth $661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc boosted its stake in AbbVie by 28.4% in the 1st quarter. AdvisorNet Financial Inc now owns 4,524 shares of the company’s stock valued at $824,000 after purchasing an additional 1,000 shares during the period. West Coast Financial LLC grew its stake in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after acquiring an additional 140 shares in the last quarter. Community Bank of Raymore increased its position in AbbVie by 2.7% during the first quarter. Community Bank of Raymore now owns 22,648 shares of the company’s stock worth $4,124,000 after acquiring an additional 600 shares during the period. New England Professional Planning Group Inc. acquired a new stake in AbbVie in the 1st quarter worth about $228,000. Finally, Hoxton Planning & Management LLC grew its position in shares of AbbVie by 11.8% during the 1st quarter. Hoxton Planning & Management LLC now owns 1,537 shares of the company’s stock worth $280,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Four equities research 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 company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $198.47.

AbbVie Price Performance

ABBV stock traded up $0.99 during midday trading on Tuesday, reaching $187.53. 561,007 shares of the stock were exchanged, compared to its average volume of 5,274,129. 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 stock has a market capitalization of $331.15 billion, a PE ratio of 55.33, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The company has a fifty day moving average price of $194.37 and a 200 day moving average price of $177.88.

AbbVie (NYSE:ABBV) last released 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. The company 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 business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.91 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 3.31%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the 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 completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

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.