Firethorn Wealth Partners LLC Acquires 177 Shares of AbbVie Inc. (NYSE:ABBV)

Firethorn Wealth Partners LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,832 shares of the company’s stock after purchasing an additional 177 shares during the period. Firethorn Wealth Partners LLC’s holdings in AbbVie were worth $559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth about $27,000. Quest Partners LLC raised its stake in shares of 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 purchasing an additional 207 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie during the first quarter worth about $37,000. Finally, Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.7 %

Shares of ABBV stock opened at $190.46 on Thursday. The stock has a market cap of $336.33 billion, a P/E ratio of 56.52, a price-to-earnings-growth 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 company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a 50 day simple moving average of $194.50 and a 200 day simple moving average of $177.63.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.91 EPS. On average, research analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 yield of 3.26%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Piper Sandler raised their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Truist Financial upped their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $198.00.

About AbbVie

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.