Arkadios Wealth Advisors grew its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,975 shares of the company’s stock after buying an additional 3,334 shares during the quarter. Arkadios Wealth Advisors’ holdings in AbbVie were worth $6,709,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at about $27,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the 3rd quarter worth approximately $39,000. Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie in the first quarter worth approximately $37,000. Finally, Quest Partners LLC increased its holdings in AbbVie by 4,140.0% during the second 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. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Stock Performance
NYSE ABBV traded down $1.80 on Friday, reaching $187.85. 4,017,525 shares of the company’s stock traded hands, compared to its average volume of 5,287,914. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. 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 firm has a market cap of $331.72 billion, a price-to-earnings ratio of 55.73, a P/E/G ratio of 2.66 and a beta of 0.63. The stock has a 50 day moving average price of $194.14 and a 200-day moving average price of $178.16.
AbbVie Dividend Announcement
The firm also recently announced 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 of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. AbbVie’s dividend payout ratio (DPR) is 183.98%.
Analysts Set New Price Targets
Several research firms recently weighed in on ABBV. Truist Financial lifted their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Barclays upped their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Four 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 stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $199.39.
Get Our Latest Stock Report on ABBV
Insiders Place Their Bets
In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently 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.
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