Hutchens & Kramer Investment Management Group LLC Acquires 126 Shares of AbbVie Inc. (NYSE:ABBV)

Hutchens & Kramer Investment Management Group LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,949 shares of the company’s stock after buying an additional 126 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in AbbVie were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Magnus Financial Group LLC boosted its stake in AbbVie by 10.2% in the 3rd quarter. Magnus Financial Group LLC now owns 8,978 shares of the company’s stock worth $1,773,000 after purchasing an additional 829 shares during the period. Luts & Greenleigh Group Inc. lifted its holdings in shares of AbbVie by 1.0% in the third quarter. Luts & Greenleigh Group Inc. now owns 13,757 shares of the company’s stock worth $2,717,000 after buying an additional 131 shares in the last quarter. Investment Advisory Group LLC boosted its position in shares of AbbVie by 15.1% in the third quarter. Investment Advisory Group LLC now owns 4,331 shares of the company’s stock valued at $855,000 after acquiring an additional 567 shares during the period. FMA Wealth Management LLC purchased a new position in AbbVie during the third quarter valued at approximately $214,000. Finally, Ullmann Wealth Partners Group LLC increased its holdings in AbbVie by 109.1% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 6,326 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,301 shares during the period. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. Piper Sandler boosted their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets raised their price target on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. William Blair raised AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $198.00.

Insider Buying and Selling at AbbVie

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 shares were 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 approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.1 %

Shares of ABBV opened at $191.86 on Wednesday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The firm has a market cap of $338.80 billion, a price-to-earnings ratio of 56.93, a PEG ratio of 2.66 and a beta of 0.63. The firm has a 50 day moving average price of $194.44 and a 200-day moving average price of $177.54. 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 results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The business 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 $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.23%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

About AbbVie

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.