AbbVie Inc. (NYSE:ABBV) Shares Acquired by Howard Capital Management Group LLC

Howard Capital Management Group LLC boosted its position in AbbVie Inc. (NYSE:ABBVFree Report) by 20.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,012 shares of the company’s stock after purchasing an additional 339 shares during the quarter. Howard Capital Management Group LLC’s holdings in AbbVie were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in AbbVie by 128.5% in the fourth quarter. Wellington Management Group LLP now owns 954,374 shares of the company’s stock valued at $147,899,000 after purchasing an additional 536,730 shares during the last quarter. Signal Advisors Wealth LLC purchased a new position in shares of AbbVie during the 1st quarter worth about $332,000. Bruce G. Allen Investments LLC boosted its position in shares of AbbVie by 9.6% in the first quarter. Bruce G. Allen Investments LLC now owns 2,749 shares of the company’s stock worth $501,000 after acquiring an additional 241 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in AbbVie by 18.4% in the first quarter. Banque Cantonale Vaudoise now owns 52,244 shares of the company’s stock valued at $9,513,000 after purchasing an additional 8,122 shares during the period. Finally, Wedmont Private Capital increased its position in AbbVie by 4.8% during the first quarter. Wedmont Private Capital now owns 18,496 shares of the company’s stock worth $3,147,000 after purchasing an additional 851 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

ABBV has been the subject of several research reports. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.69.

View Our Latest Research Report on AbbVie

AbbVie Stock Performance

AbbVie stock opened at $188.57 on Friday. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. 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 company has a market capitalization of $332.99 billion, a price-to-earnings ratio of 55.96, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The firm’s fifty day moving average price is $194.46 and its 200 day moving average price is $177.70.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the firm earned $2.91 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 10.85 EPS 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 given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

About AbbVie

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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