Regatta Capital Group LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Regatta Capital Group LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,485 shares of the company’s stock after selling 295 shares during the quarter. Regatta Capital Group LLC’s holdings in AbbVie were worth $2,268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter worth $27,000. IFS Advisors LLC purchased a new position in AbbVie in the 1st quarter valued at about $36,000. Quest Partners LLC boosted its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the first quarter valued at about $37,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ABBV shares. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Truist Financial raised their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets lifted their price target on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. UBS Group increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.00.

AbbVie Price Performance

Shares of NYSE ABBV opened at $191.86 on Wednesday. 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 market capitalization of $338.80 billion, a PE ratio of 56.93, a P/E/G 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 $199.95. The business’s fifty day moving average price is $194.44 and its two-hundred day moving average price is $177.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping 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 company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.91 EPS. On average, research analysts expect that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.23%. 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.