Taylor Frigon Capital Management LLC Has $1.70 Million Stake in AbbVie Inc. (NYSE:ABBV)

Taylor Frigon Capital Management LLC trimmed its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,666 shares of the company’s stock after selling 234 shares during the period. Taylor Frigon Capital Management LLC’s holdings in AbbVie were worth $1,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. Bradley & Co. Private Wealth Management LLC grew its position in AbbVie by 80.6% in the second quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 79 shares in the last quarter. Activest Wealth Management bought a new position in shares of AbbVie in the 3rd quarter valued at about $31,000. Heritage Wealth Management LLC bought a new position in shares of AbbVie in the 2nd quarter valued at about $37,000. Paragon Wealth Strategies LLC bought a new stake in shares of AbbVie during the 3rd quarter worth about $51,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of AbbVie during the 2nd quarter worth about $53,000. 67.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler lifted their target price on shares of AbbVie from $155.00 to $157.00 and gave the stock an “overweight” rating in a report on Tuesday, January 17th. Truist Financial lifted their target price on shares of AbbVie from $160.00 to $180.00 in a report on Thursday, January 5th. Societe Generale downgraded shares of AbbVie from a “buy” rating to a “hold” rating and reduced their target price for the stock from $155.00 to $140.00 in a report on Tuesday, November 8th. StockNews.com assumed coverage on shares of AbbVie in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Finally, BMO Capital Markets dropped their price objective on shares of AbbVie from $170.00 to $169.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.56.

Insider Activity

In other AbbVie news, EVP Timothy J. Richmond sold 42,370 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the transaction, the executive vice president now owns 13,837 shares in the company, valued at $2,261,519.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

AbbVie Trading Down 0.6 %

ABBV traded down $0.85 during trading on Wednesday, reaching $146.84. 1,307,832 shares of the company’s stock were exchanged, compared to its average volume of 5,997,571. AbbVie Inc. has a one year low of $132.83 and a one year high of $175.91. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 3.77. The stock has a market capitalization of $259.68 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 3.18 and a beta of 0.69. The firm has a fifty day moving average price of $159.47 and a two-hundred day moving average price of $149.22.

AbbVie (NYSE:ABBVGet Rating) last posted its earnings results on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.10. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The firm had revenue of $14.81 billion for the quarter, compared to analyst estimates of $14.95 billion. During the same period in the previous year, the firm posted $3.33 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 13.89 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $1.48 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.41. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Thursday, January 12th. AbbVie’s dividend payout ratio is currently 79.04%.

AbbVie Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

Further Reading

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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