CFM Wealth Partners LLC Sells 861 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

CFM Wealth Partners LLC lowered its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,264 shares of the company’s stock after selling 861 shares during the quarter. CFM Wealth Partners LLC’s holdings in AbbVie were worth $3,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. Capital International Investors boosted its position in AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Capital Research Global Investors boosted its position in AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after acquiring an additional 992,496 shares in the last quarter. Legal & General Group Plc boosted its position in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after acquiring an additional 1,240,434 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $191.86 on Wednesday. The stock has a 50-day moving average of $194.44 and a two-hundred day moving average of $177.54. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a market cap of $338.80 billion, a P/E ratio of 56.93, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.23%. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets increased their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Morgan Stanley increased their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.00.

Read Our Latest Report on AbbVie

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.

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