Jacobsen Capital Management Has $622,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Jacobsen Capital Management grew its holdings in AbbVie Inc. (NYSE:ABBV) by 17.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,148 shares of the company’s stock after buying an additional 470 shares during the quarter. Jacobsen Capital Management’s holdings in AbbVie were worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after buying an additional 9,978,415 shares in the last quarter. Capital International Investors boosted its holdings in AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares during 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 acquiring an additional 992,496 shares during the last quarter. Legal & General Group Plc boosted its holdings 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 acquiring an additional 134,239 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after acquiring an additional 1,240,434 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABBV. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Truist Financial raised their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. UBS Group raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets raised their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.39.

AbbVie Trading Down 0.1 %

NYSE:ABBV opened at $189.50 on Wednesday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock has a market capitalization of $334.63 billion, a PE ratio of 56.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The business’s 50-day simple moving average is $193.75 and its 200-day simple moving average is $178.75.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

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.