AbbVie Inc. (NYSE:ABBV) Stock Position Reduced by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC lessened its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173,656 shares of the company's stock after selling 6,056 shares during the quarter. AbbVie makes up 2.3% of Franklin Street Advisors Inc. NC's holdings, making the stock its 9th biggest position. Franklin Street Advisors Inc. NC's holdings in AbbVie were worth $34,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc lifted its holdings in AbbVie by 6.6% during the fourth quarter. Bell Investment Advisors Inc now owns 2,031 shares of the company's stock valued at $315,000 after purchasing an additional 126 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in AbbVie by 0.6% during the fourth quarter. Baird Financial Group Inc. now owns 2,095,667 shares of the company's stock valued at $324,766,000 after purchasing an additional 12,389 shares in the last quarter. Buckingham Strategic Wealth LLC lifted its holdings in AbbVie by 2.7% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 91,743 shares of the company's stock valued at $14,217,000 after purchasing an additional 2,420 shares in the last quarter. Garden State Investment Advisory Services LLC lifted its holdings in AbbVie by 4.6% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 3,253 shares of the company's stock valued at $504,000 after purchasing an additional 142 shares in the last quarter. Finally, Groupama Asset Managment purchased a new position in AbbVie during the fourth quarter valued at $13,572,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.1 %

Shares of ABBV traded down $0.14 during trading on Friday, reaching $194.21. 2,972,318 shares of the company traded hands, compared to its average volume of 5,304,990. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The stock has a market cap of $343.04 billion, a PE ratio of 64.88, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The stock has a 50-day simple moving average of $193.98 and a 200-day simple moving average of $177.30. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly 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. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.02 billion. During the same period last year, the business earned $2.91 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie's dividend payout ratio is presently 206.67%.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company's stock, valued at $89,792,325. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ABBV shares. 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 report on Wednesday. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday. BMO Capital Markets raised 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. Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an "overweight" rating in a research note on Monday, August 12th. Finally, Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $198.00.

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.