Carmichael Hill & Associates Inc. Has $1.34 Million Position in AbbVie Inc. (NYSE:ABBV)

Carmichael Hill & Associates Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,760 shares of the company’s stock after acquiring an additional 71 shares during the period. Carmichael Hill & Associates Inc.’s holdings in AbbVie were worth $1,335,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Hawaiian Bank grew its holdings in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after purchasing an additional 2,657 shares during the period. PGGM Investments increased its position in shares of AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after buying an additional 24,756 shares in the last quarter. Foresight Capital Management Advisors Inc. acquired a new stake in AbbVie during the 2nd quarter worth $1,349,000. Sumitomo Life Insurance Co. lifted its holdings in AbbVie by 29.6% during the third quarter. Sumitomo Life Insurance Co. now owns 27,003 shares of the company’s stock worth $5,333,000 after acquiring an additional 6,161 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its stake in AbbVie by 33.1% in the first quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,535 shares of the company’s stock valued at $462,000 after acquiring an additional 631 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ABBV. BMO Capital Markets lifted their price objective on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. UBS Group upped their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler raised their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

AbbVie Price Performance

NYSE:ABBV opened at $203.55 on Friday. The stock has a market capitalization of $359.54 billion, a PE ratio of 70.68, a P/E/G ratio of 2.76 and a beta of 0.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $207.32. The firm has a fifty day simple moving average of $194.12 and a 200 day simple moving average of $179.49. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. On average, research analysts expect that AbbVie Inc. will post 10.9 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

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.