AbbVie Inc. (NYSE:ABBV) Shares Acquired by HM Payson & Co.

HM Payson & Co. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 578,416 shares of the company’s stock after acquiring an additional 8,585 shares during the period. AbbVie makes up 2.0% of HM Payson & Co.’s holdings, making the stock its 9th biggest holding. HM Payson & Co.’s holdings in AbbVie were worth $114,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ABBV. Catalyst Financial Partners LLC grew its holdings in shares of AbbVie by 1.4% in the third quarter. Catalyst Financial Partners LLC now owns 12,469 shares of the company’s stock valued at $2,462,000 after purchasing an additional 173 shares in the last quarter. Goldstone Financial Group LLC purchased a new position in AbbVie in the third quarter worth approximately $1,728,000. Voisard Asset Management Group Inc. lifted its stake in AbbVie by 13.6% in the third quarter. Voisard Asset Management Group Inc. now owns 536 shares of the company’s stock worth $106,000 after acquiring an additional 64 shares during the last quarter. Financial Advocates Investment Management lifted its stake in AbbVie by 0.7% in the third quarter. Financial Advocates Investment Management now owns 28,907 shares of the company’s stock worth $5,709,000 after acquiring an additional 194 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its stake in AbbVie by 8.9% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 57,374 shares of the company’s stock worth $11,330,000 after acquiring an additional 4,685 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 2.0 %

Shares of AbbVie stock traded up $3.94 on Thursday, hitting $205.44. 525,538 shares of the company’s stock traded hands, compared to its average volume of 5,294,006. The stock has a market cap of $362.78 billion, a P/E ratio of 59.78, 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 firm’s 50-day moving average is $193.85 and its 200 day moving average is $178.91. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $207.11.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.19%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group lifted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.11.

Insider Buying and Selling

In related 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 completion of the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $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 available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.