AbbVie Inc. (NYSE:ABBV) Shares Acquired by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,091 shares of the company’s stock after purchasing an additional 1,450 shares during the period. AbbVie comprises about 1.7% of Brown Lisle Cummings Inc.’s holdings, making the stock its 11th largest position. Brown Lisle Cummings Inc.’s holdings in AbbVie were worth $5,547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. West Coast Financial LLC increased its position in shares of AbbVie by 9.7% during the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after purchasing an additional 140 shares in the last quarter. FCG Investment Co purchased a new position in shares of AbbVie during the first quarter worth about $1,413,000. BluePath Capital Management LLC grew its holdings in shares of AbbVie by 0.9% during the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after buying an additional 67 shares during the last quarter. Palisade Asset Management LLC grew its holdings in shares of AbbVie by 65.6% during the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after buying an additional 38,562 shares during the last quarter. Finally, First Hawaiian Bank grew its holdings in shares of AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after buying an additional 2,657 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of research reports. Barclays raised their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. BMO Capital Markets lifted their price objective on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Four research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $188.86 on Monday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a market capitalization of $333.50 billion, a P/E ratio of 56.04, a P/E/G ratio of 2.66 and a beta of 0.63. The business has a 50 day moving average price of $194.44 and a 200 day moving average price of $177.74.

AbbVie (NYSE:ABBV) last issued 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. The company had revenue of $14.46 billion during 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%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.91 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.28%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by 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.