AbbVie Inc. (NYSE:ABBV) Shares Sold by Polaris Wealth Advisory Group LLC

Polaris Wealth Advisory Group LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 50.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,204 shares of the company’s stock after selling 3,222 shares during the period. Polaris Wealth Advisory Group LLC’s holdings in AbbVie were worth $282,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its holdings in shares of AbbVie by 4.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 280,474 shares of the company’s stock worth $21,369,000 after purchasing an additional 10,738 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of AbbVie by 107.5% during the 1st quarter. Gabelli Funds LLC now owns 8,300 shares of the company’s stock worth $632,000 after purchasing an additional 4,300 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of AbbVie by 56.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 132,229 shares of the company’s stock worth $10,082,000 after purchasing an additional 47,907 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $203,000. Finally, APG Asset Management N.V. boosted its holdings in shares of AbbVie by 142.8% during the 1st quarter. APG Asset Management N.V. now owns 1,743,224 shares of the company’s stock worth $132,816,000 after purchasing an additional 1,025,112 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.

Shares of NYSE ABBV opened at $86.27 on Friday. The firm has a market cap of $152.25 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.42 and a beta of 0.74. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. AbbVie Inc. has a 52-week low of $62.55 and a 52-week high of $101.28. The business’s 50 day moving average is $89.38 and its two-hundred day moving average is $90.44.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The business had revenue of $10.43 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company earned $2.26 earnings per share. The company’s revenue was up 26.3% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 10.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Wednesday, October 14th. AbbVie’s dividend payout ratio is currently 52.80%.

Several research analysts have recently weighed in on ABBV shares. Atlantic Securities upgraded AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of AbbVie from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. Berenberg Bank assumed coverage on shares of AbbVie in a research report on Tuesday, September 29th. They set a “hold” rating and a $98.00 price target on the stock. Mizuho reaffirmed a “buy” rating and set a $111.00 price target on shares of AbbVie in a research report on Sunday, September 27th. Finally, Citigroup lifted their price target on shares of AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $108.63.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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