AbbVie Inc. $ABBV Shares Bought by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,939 shares of the company’s stock after buying an additional 413 shares during the period. 3Chopt Investment Partners LLC’s holdings in AbbVie were worth $2,773,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABBV. Commerzbank Aktiengesellschaft FI boosted its position in shares of AbbVie by 118.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 129,688 shares of the company’s stock valued at $24,073,000 after purchasing an additional 70,418 shares in the last quarter. Pinion Investment Advisors LLC raised its position in shares of AbbVie by 3.6% during the second quarter. Pinion Investment Advisors LLC now owns 4,863 shares of the company’s stock worth $903,000 after purchasing an additional 167 shares during the period. McKinley Carter Wealth Services Inc. increased its stake in AbbVie by 9.4% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 24,102 shares of the company’s stock worth $4,474,000 after purchasing an additional 2,076 shares in the last quarter. M. Kraus & Co raised its stake in AbbVie by 0.6% during the 2nd quarter. M. Kraus & Co now owns 39,923 shares of the company’s stock valued at $7,410,000 after purchasing an additional 234 shares during the period. Finally, Horizon Bancorp Inc. IN boosted its position in AbbVie by 70.6% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 2,900 shares of the company’s stock worth $538,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $231.03 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The business has a 50-day moving average price of $214.12 and a two-hundred day moving average price of $196.58. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $408.13 billion, a P/E ratio of 110.01, a P/E/G ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.65 earnings per share. Equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is 312.38%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABBV shares. HSBC set a $225.00 price target on shares of AbbVie in a report on Thursday, October 2nd. UBS Group set a $251.00 price target on shares of AbbVie in a research report on Friday, October 3rd. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Wells Fargo & Company upped their price target on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Finally, Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.38.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.