Cetera Investment Advisers Acquires 1,999 Shares of AbbVie Inc. (NYSE:ABBV)

Cetera Investment Advisers grew its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 0.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 610,223 shares of the company’s stock after acquiring an additional 1,999 shares during the quarter. Cetera Investment Advisers’ holdings in AbbVie were worth $104,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in AbbVie by 8.1% in the fourth quarter. Jones Financial Companies Lllp now owns 31,799 shares of the company’s stock valued at $4,928,000 after acquiring an additional 2,373 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in AbbVie by 1.2% in the fourth quarter. Belpointe Asset Management LLC now owns 34,550 shares of the company’s stock valued at $5,354,000 after purchasing an additional 403 shares during the last quarter. Arbor Capital Management Inc. ADV bought a new position in AbbVie during the fourth quarter valued at $4,449,000. Royal London Asset Management Ltd. grew its holdings in AbbVie by 7.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,374,846 shares of the company’s stock valued at $213,060,000 after purchasing an additional 93,443 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in AbbVie in the fourth quarter worth $775,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Morgan Stanley boosted their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays lifted their price objective on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $191.64.

View Our Latest Report on ABBV

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.4 %

Shares of ABBV stock opened at $197.48 on Tuesday. The company has a market capitalization of $348.72 billion, a PE ratio of 58.60, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The business’s fifty day moving average is $192.02 and its 200 day moving average is $176.34. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results 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. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the firm posted $2.91 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.14%. AbbVie’s dividend payout ratio is presently 183.98%.

About AbbVie

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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