Great Diamond Partners LLC Sells 1,712 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Great Diamond Partners LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 16.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,452 shares of the company’s stock after selling 1,712 shares during the quarter. Great Diamond Partners LLC’s holdings in AbbVie were worth $1,669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in AbbVie by 6.2% in the first 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 in the last quarter. Capital International Investors raised its stake in AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. Capital Research Global Investors raised its stake in AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after purchasing an additional 992,496 shares in the last quarter. Legal & General Group Plc raised its stake in AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after purchasing an additional 1,240,434 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $189.50 on Wednesday. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The stock’s 50-day moving average is $193.75 and its 200 day moving average is $178.75. The company has a market cap of $334.63 billion, a P/E ratio of 56.23, a PEG ratio of 2.66 and a beta of 0.63. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ABBV shares. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price target on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.39.

View Our Latest Stock Report on AbbVie

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated 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 owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.

See Also

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