Mount Yale Investment Advisors LLC Sells 1,185 Shares of AbbVie Inc. (NYSE:ABBV)

Mount Yale Investment Advisors LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,038 shares of the company’s stock after selling 1,185 shares during the period. Mount Yale Investment Advisors LLC’s holdings in AbbVie were worth $5,339,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Tectonic Advisors LLC raised its stake in AbbVie by 12.2% in the third quarter. Tectonic Advisors LLC now owns 36,325 shares of the company’s stock worth $7,173,000 after buying an additional 3,946 shares in the last quarter. Rowlandmiller & PARTNERS.ADV raised its stake in AbbVie by 1.1% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 47,224 shares of the company’s stock worth $9,326,000 after buying an additional 535 shares in the last quarter. Dakota Wealth Management raised its stake in AbbVie by 2.5% in the third quarter. Dakota Wealth Management now owns 40,988 shares of the company’s stock worth $8,094,000 after buying an additional 991 shares in the last quarter. DT Investment Partners LLC raised its stake in AbbVie by 0.8% in the third quarter. DT Investment Partners LLC now owns 30,855 shares of the company’s stock worth $6,093,000 after buying an additional 260 shares in the last quarter. Finally, apricus wealth LLC increased its stake in shares of AbbVie by 1.1% during the third quarter. apricus wealth LLC now owns 19,370 shares of the company’s stock valued at $3,825,000 after purchasing an additional 205 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.0 %

Shares of ABBV stock opened at $189.68 on Friday. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm’s 50 day moving average is $194.22 and its 200 day moving average is $178.08. The stock has a market capitalization of $334.95 billion, a P/E ratio of 56.28, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the company posted $2.91 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

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

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. Truist Financial raised their target price 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. UBS Group raised their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Finally, TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $198.47.

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.