Shepherd Financial Partners LLC Buys 503 Shares of AbbVie Inc. (NYSE:ABBV)

Shepherd Financial Partners LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,888 shares of the company’s stock after purchasing an additional 503 shares during the quarter. AbbVie makes up 0.6% of Shepherd Financial Partners LLC’s portfolio, making the stock its 29th biggest holding. Shepherd Financial Partners LLC’s holdings in AbbVie were worth $4,915,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $27,000. Quest Partners LLC boosted its holdings in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $39,000. Finally, Burkett Financial Services LLC boosted its holdings in shares of AbbVie by 61.2% during the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after buying an additional 82 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

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 value of $12,403,580.00. Following the transaction, the chairman now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Morgan Stanley lifted their price target on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets boosted their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Trading Down 0.1 %

ABBV traded down $0.16 during trading on Friday, reaching $203.71. The company had a trading volume of 1,160,948 shares, compared to its average volume of 5,313,679. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The stock has a market cap of $359.82 billion, a P/E ratio of 70.83, a PEG ratio of 2.76 and a beta of 0.63. The business has a 50 day simple moving average of $194.00 and a 200-day simple moving average of $179.09. 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) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 10.9 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.22%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

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.