Resonant Capital Advisors LLC Buys 931 Shares of AbbVie Inc. (NYSE:ABBV)

Resonant Capital Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,508 shares of the company’s stock after acquiring an additional 931 shares during the quarter. Resonant Capital Advisors LLC’s holdings in AbbVie were worth $2,865,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after acquiring an additional 992,496 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABBV shares. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Monday, August 5th. BMO Capital Markets increased their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Four investment 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. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $198.47.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $188.86 on Friday. The stock has a 50 day moving average price of $194.44 and a 200 day moving average price of $177.74. 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 stock has a market capitalization of $333.50 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS 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 firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the firm posted $2.91 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given 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 3.28%. AbbVie’s payout ratio is 183.98%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

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.