Autumn Glory Partners LLC Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Autumn Glory Partners LLC increased its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,488 shares of the company’s stock after purchasing an additional 2,903 shares during the period. Autumn Glory Partners LLC’s holdings in AbbVie were worth $2,467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the second quarter valued at about $27,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter valued at about $39,000. Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the first quarter valued at about $37,000. Finally, Quest Partners LLC grew its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, 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 transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. TD Cowen boosted their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company upped their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.39.

Get Our Latest Stock Report on ABBV

AbbVie Trading Up 1.0 %

NYSE:ABBV opened at $189.67 on Tuesday. 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 Inc. has a one year low of $135.85 and a one year high of $199.95. The business’s 50-day simple moving average is $193.88 and its 200 day simple moving average is $178.56. The stock has a market cap of $334.93 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie Dividend Announcement

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

AbbVie Profile

(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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