Ullmann Wealth Partners Group LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Ullmann Wealth Partners Group LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 109.1% in the third quarter, Holdings Channel reports. The institutional investor owned 6,326 shares of the company’s stock after acquiring an additional 3,301 shares during the quarter. Ullmann Wealth Partners Group LLC’s holdings in AbbVie were worth $1,249,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ABBV. Watershed Private Wealth LLC purchased a new stake in AbbVie in the 3rd quarter valued at $220,000. Trust Co. of Oklahoma acquired a new stake in AbbVie in the 3rd quarter valued at about $227,000. Swedbank AB raised its position in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after purchasing an additional 6,810 shares in the last quarter. Zhang Financial LLC raised its position in AbbVie by 3.2% in the 3rd quarter. Zhang Financial LLC now owns 13,004 shares of the company’s stock valued at $2,568,000 after purchasing an additional 406 shares in the last quarter. Finally, Mustard Seed Financial LLC lifted its stake in AbbVie by 17.7% during the third quarter. Mustard Seed Financial LLC now owns 6,167 shares of the company’s stock worth $1,218,000 after purchasing an additional 927 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. Finally, Morgan Stanley boosted their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.00.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents 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 link. In other AbbVie 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 transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.9 %

AbbVie stock traded down $3.79 during trading on Tuesday, hitting $191.86. The company’s stock had a trading volume of 6,424,698 shares, compared to its average volume of 5,302,177. The stock has a market capitalization of $338.80 billion, a price-to-earnings ratio of 58.12, a P/E/G ratio of 2.66 and a beta of 0.63. The stock’s fifty day moving average is $194.31 and its 200 day moving average is $177.47. AbbVie Inc. has a 1-year low of $135.85 and a 1-year 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.

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

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid 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 3.23%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

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.