MONECO Advisors LLC Acquires 836 Shares of AbbVie Inc. (NYSE:ABBV)

MONECO Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 6.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,494 shares of the company’s stock after acquiring an additional 836 shares during the period. MONECO Advisors LLC’s holdings in AbbVie were worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Fairway Wealth LLC bought a new position in shares of AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie in the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Redmont Wealth Advisors LLC purchased a new position in AbbVie during the first quarter valued at approximately $37,000. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 0.1 %

ABBV traded down $0.27 on Tuesday, hitting $189.41. The company had a trading volume of 525,854 shares, compared to its average volume of 5,265,587. The business’s fifty day simple moving average is $193.88 and its 200 day simple moving average is $178.56. 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 Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a market cap of $334.47 billion, a PE ratio of 56.28, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie Announces Dividend

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

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABBV. Bank of America lifted 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 Friday, October 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler increased their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $199.39.

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.