Blue Trust Inc. Purchases 11,444 Shares of AbbVie Inc. (NYSE:ABBV)

Blue Trust Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 41.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,212 shares of the company’s stock after buying an additional 11,444 shares during the quarter. Blue Trust Inc.’s holdings in AbbVie were worth $7,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Moss Adams Wealth Advisors LLC grew its stake in AbbVie by 15.0% during the third quarter. Moss Adams Wealth Advisors LLC now owns 4,503 shares of the company’s stock valued at $889,000 after acquiring an additional 588 shares in the last quarter. Accurate Wealth Management LLC raised its stake in shares of AbbVie by 5.2% during the third quarter. Accurate Wealth Management LLC now owns 14,779 shares of the company’s stock worth $2,837,000 after acquiring an additional 727 shares in the last quarter. Net Worth Advisory Group purchased a new stake in shares of AbbVie in the 3rd quarter valued at $703,000. Precedent Wealth Partners LLC grew its holdings in shares of AbbVie by 12.3% during the 3rd quarter. Precedent Wealth Partners LLC now owns 8,839 shares of the company’s stock valued at $1,745,000 after purchasing an additional 965 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in AbbVie by 7.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 169,380 shares of the company’s stock worth $33,449,000 after purchasing an additional 11,233 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.2 %

NYSE:ABBV opened at $188.87 on Friday. 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. The company’s 50 day moving average price is $194.44 and its 200-day moving average price is $177.76. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.91 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 3.28%. AbbVie’s payout ratio is 183.98%.

Insider Activity at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction 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 $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Piper Sandler upped 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Truist Financial increased their price target on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

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.