AbbVie Inc. (NYSE:ABBV) Shares Acquired by Well Done LLC

Well Done LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,605 shares of the company’s stock after purchasing an additional 69 shares during the period. AbbVie accounts for approximately 1.8% of Well Done LLC’s investment portfolio, making the stock its 10th biggest position. Well Done LLC’s holdings in AbbVie were worth $9,796,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie during the 2nd quarter worth about $27,000. Quest Partners LLC grew its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the 1st quarter worth about $37,000. Finally, Marquette Asset Management LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at about $39,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America raised their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday. They set a “market perform” rating and a $203.00 target price on the stock. BMO Capital Markets lifted their price target on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Four investment 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 stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Stock Up 0.2 %

Shares of NYSE:ABBV opened at $188.87 on Friday. The business’s 50 day moving average is $194.44 and its 200 day moving average is $177.76. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The stock has a market cap of $333.52 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 2.66 and a beta of 0.63. 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm earned $2.91 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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 is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.28%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insiders Place Their Bets

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