Dover Advisors LLC Has $1.49 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Dover Advisors LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,564 shares of the company’s stock after selling 585 shares during the quarter. Dover Advisors LLC’s holdings in AbbVie were worth $1,494,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Pine Haven Investment Counsel Inc boosted its stake in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares during the period. Frisch Financial Group Inc. grew its holdings in shares of AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares in the last quarter. First Citizens Financial Corp increased its position in shares of AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares during the last quarter. Sunflower Bank N.A. raised its stake in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after purchasing an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC grew its stake in AbbVie by 3.4% in the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after buying an additional 54 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV traded down $2.22 during mid-day trading on Tuesday, reaching $191.86. The company’s stock had a trading volume of 6,023,912 shares, compared to its average volume of 5,302,177. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The stock has a fifty day moving average of $194.31 and a two-hundred day moving average of $177.47. The firm has a market capitalization of $338.80 billion, a PE ratio of 58.12, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its earnings results 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. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the company posted $2.91 earnings per share. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

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 paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio 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 dated 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 directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler increased their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.00.

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.