Winch Advisory Services LLC Acquires 105 Shares of AbbVie Inc. (NYSE:ABBV)

Winch Advisory Services LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 797 shares of the company’s stock after acquiring an additional 105 shares during the period. Winch Advisory Services LLC’s holdings in AbbVie were worth $157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. AdvisorNet Financial Inc lifted its holdings in shares of AbbVie by 28.4% in the first quarter. AdvisorNet Financial Inc now owns 4,524 shares of the company’s stock valued at $824,000 after purchasing an additional 1,000 shares in the last quarter. West Coast Financial LLC lifted its holdings in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares in the last quarter. Community Bank of Raymore lifted its holdings in shares of AbbVie by 2.7% in the first quarter. Community Bank of Raymore now owns 22,648 shares of the company’s stock valued at $4,124,000 after purchasing an additional 600 shares in the last quarter. New England Professional Planning Group Inc. bought a new position in shares of AbbVie in the first quarter valued at approximately $228,000. Finally, Hoxton Planning & Management LLC lifted its holdings in shares of AbbVie by 11.8% in the first quarter. Hoxton Planning & Management LLC now owns 1,537 shares of the company’s stock valued at $280,000 after purchasing an additional 162 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Wells Fargo & Company increased their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Finally, Bank of America increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.47.

AbbVie Price Performance

NYSE:ABBV opened at $186.62 on Tuesday. The firm has a market capitalization of $329.55 billion, a price-to-earnings ratio of 55.38, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The stock has a fifty day moving average of $194.37 and a 200 day moving average of $177.88. 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 posted 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 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $2.91 earnings per share. On average, research analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.32%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 sale, the chairman now owns 446,599 shares of the company’s stock, 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.