Aaron Wealth Advisors LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Aaron Wealth Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,068 shares of the company’s stock after acquiring an additional 646 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in AbbVie were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ABBV. Vanguard Group Inc. grew its stake in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. Capital International Investors raised its position in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Capital Research Global Investors boosted its holdings in AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after purchasing an additional 992,496 shares in the last quarter. Legal & General Group Plc increased its stake in AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in AbbVie by 12.8% during the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after purchasing an additional 1,240,434 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.2 %

Shares of NYSE ABBV opened at $188.87 on Friday. The stock has a market capitalization of $333.52 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth 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 firm has a 50-day moving average price of $194.44 and a 200 day moving average price of $177.76. 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 released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $2.91 EPS. Equities research analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.28%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets lifted their target price on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

Insiders Place Their Bets

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 transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.