Michael S. Ryan Inc. Sells 177 Shares of AbbVie Inc. (NYSE:ABBV)

Michael S. Ryan Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,560 shares of the company’s stock after selling 177 shares during the quarter. AbbVie comprises 0.5% of Michael S. Ryan Inc.’s investment portfolio, making the stock its 22nd largest position. Michael S. Ryan Inc.’s holdings in AbbVie were worth $703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in AbbVie during the second quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie during the 2nd quarter valued at about $27,000. IFS Advisors LLC purchased a new position in shares of AbbVie during the 1st quarter valued at about $36,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’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 value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ABBV shares. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. UBS Group lifted their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Morgan Stanley lifted their price target on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.00.

AbbVie Stock Up 0.9 %

Shares of NYSE ABBV opened at $195.86 on Tuesday. The firm has a fifty day simple moving average of $194.31 and a two-hundred day simple moving average of $177.47. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $345.86 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period last year, the business posted $2.91 earnings per share. AbbVie’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The company 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. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.17%. AbbVie’s payout ratio is 183.98%.

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.