Commonwealth Financial Services LLC Acquires 170 Shares of AbbVie Inc. (NYSE:ABBV)

Commonwealth Financial Services LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,386 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Commonwealth Financial Services LLC’s holdings in AbbVie were worth $1,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. International Assets Investment Management LLC boosted its stake in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. Capital World Investors grew its holdings in AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after buying an additional 3,120,310 shares in the last quarter. Capital International Investors increased its stake in AbbVie by 6.9% in 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 during the last quarter. Finally, TD Asset Management Inc increased its stake in AbbVie by 156.0% in the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after acquiring an additional 2,116,997 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling 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 owns 446,599 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on ABBV. Truist Financial boosted their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen boosted 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. UBS Group increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets lifted their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Trading Up 0.7 %

ABBV stock traded up $1.28 during trading on Thursday, hitting $189.16. The company had a trading volume of 599,522 shares, compared to its average volume of 5,263,581. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The company has a 50 day simple moving average of $194.22 and a 200-day simple moving average of $178.08. The firm has a market capitalization of $334.03 billion, a P/E ratio of 55.75, 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.

AbbVie (NYSE:ABBV) last issued 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 for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $2.91 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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 payout ratio is currently 183.98%.

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.