AbbVie Inc. (NYSE:ABBV) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,796 shares of the company’s stock after selling 1,256 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in AbbVie were worth $750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FCG Investment Co increased its holdings in shares of AbbVie by 56.7% in the third quarter. FCG Investment Co now owns 11,651 shares of the company’s stock valued at $2,301,000 after purchasing an additional 4,215 shares during the last quarter. Greenspring Advisors LLC acquired a new stake in shares of AbbVie in the 3rd quarter worth $511,000. Insight Folios Inc raised its holdings in shares of AbbVie by 4.8% during the 3rd quarter. Insight Folios Inc now owns 42,313 shares of the company’s stock worth $8,356,000 after acquiring an additional 1,941 shares during the period. Peterson Wealth Advisors LLC boosted its position in shares of AbbVie by 5.0% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 4,209 shares of the company’s stock valued at $831,000 after acquiring an additional 200 shares during the last quarter. Finally, Motiv8 Investments LLC grew its holdings in shares of AbbVie by 11.7% in the third quarter. Motiv8 Investments LLC now owns 5,499 shares of the company’s stock valued at $1,086,000 after purchasing an additional 577 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ABBV. Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Citigroup lifted their target price on AbbVie from $170.00 to $215.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.39.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $188.72 on Monday. The stock has a market cap of $333.25 billion, a P/E ratio of 55.74, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The stock has a 50 day moving average of $194.02 and a two-hundred day moving average of $178.40. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. On average, research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

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 issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. AbbVie’s payout ratio is 183.98%.

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.