LexAurum Advisors LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

LexAurum Advisors LLC bought a new position in AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,160 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds also recently bought and sold shares of ABBV. DiNuzzo Private Wealth Inc. increased its stake in shares of AbbVie by 93.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 500 shares of the company’s stock valued at $99,000 after buying an additional 241 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in AbbVie by 10.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 226,803 shares of the company’s stock valued at $44,789,000 after purchasing an additional 21,790 shares during the period. TruWealth Advisors LLC increased its position in AbbVie by 1.4% during the 3rd quarter. TruWealth Advisors LLC now owns 156,481 shares of the company’s stock valued at $30,901,000 after purchasing an additional 2,171 shares during the period. Drake & Associates LLC raised its holdings in AbbVie by 4.3% in the 3rd quarter. Drake & Associates LLC now owns 7,312 shares of the company’s stock worth $1,444,000 after purchasing an additional 300 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of AbbVie by 0.7% in the 3rd quarter. Trust Co. of Vermont now owns 172,490 shares of the company’s stock worth $34,063,000 after purchasing an additional 1,222 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.2 %

Shares of NYSE ABBV opened at $188.87 on Friday. The firm’s 50 day moving average price is $194.44 and its 200-day moving average price is $177.76. AbbVie Inc. has a 52-week low of $135.85 and a 52-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 company has a market cap of $333.52 billion, a PE ratio of 56.04, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 203.66% and a net margin of 9.71%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.91 EPS. On average, equities research analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 yield of 3.28%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Buying and Selling at AbbVie

In other 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 sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABBV. UBS Group increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. BMO Capital Markets lifted their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Four investment 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. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

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.