Sequoia Financial Advisors LLC Has $13.52 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sequoia Financial Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 23.6% in the third quarter, HoldingsChannel reports. The firm owned 68,449 shares of the company’s stock after buying an additional 13,048 shares during the period. Sequoia Financial Advisors LLC’s holdings in AbbVie were worth $13,517,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after buying an additional 9,978,415 shares during the period. Capital World Investors boosted its holdings in shares of AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares during the period. Capital International Investors grew its position in shares of 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 purchasing an additional 3,110,601 shares during the last quarter. TD Asset Management Inc increased its stake in shares of AbbVie by 156.0% during the first quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after purchasing an additional 2,116,997 shares during the period. Finally, Swedbank AB acquired a new stake in AbbVie during the 1st quarter worth approximately $367,372,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV traded up $1.14 on Tuesday, hitting $187.68. The company had a trading volume of 757,111 shares, compared to its average volume of 5,275,091. The firm has a 50 day moving average of $194.37 and a two-hundred day moving average of $177.88. The stock has a market capitalization of $331.42 billion, a price-to-earnings ratio of 55.33, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 52 week low of $135.85 and a 52 week 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.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. During the same quarter last year, the business posted $2.91 EPS. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Announces Dividend

The company 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 3.30%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABBV shares. Truist Financial lifted their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Morgan Stanley raised their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $198.47.

Insider Activity at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were 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 in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

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.