Brighton Jones LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Brighton Jones LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,511 shares of the company’s stock after selling 210 shares during the period. Brighton Jones LLC’s holdings in AbbVie were worth $3,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew 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 valued at $31,025,605,000 after purchasing an additional 9,978,415 shares during the last quarter. International Assets Investment Management LLC boosted its position in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the period. Capital World Investors grew its stake 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 valued at $796,357,000 after buying an additional 3,120,310 shares during the last quarter. Capital International Investors increased its holdings 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 worth $8,758,789,000 after buying an additional 3,110,601 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of AbbVie by 156.0% in the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after acquiring an additional 2,116,997 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The shares were 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE ABBV opened at $187.87 on Thursday. The company has a 50 day simple moving average of $194.22 and a two-hundred day simple moving average of $178.08. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a market capitalization of $331.75 billion, a price-to-earnings ratio of 55.75, a P/E/G ratio of 2.66 and a beta of 0.63. 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:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the company earned $2.91 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.85 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. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.30%. AbbVie’s payout ratio is presently 183.98%.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Bank of America lifted their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Finally, BMO Capital Markets raised their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.47.

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.