Montis Financial LLC Invests $522,000 in AbbVie Inc. (NYSE:ABBV)

Montis Financial LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,642 shares of the company’s stock, valued at approximately $522,000.

Other large investors have also recently bought and sold shares of the company. Code Waechter LLC purchased a new stake in shares of AbbVie during the third quarter worth about $460,000. Evexia Wealth LLC acquired a new stake in AbbVie during the third quarter worth approximately $203,000. Silverlake Wealth Management LLC grew its stake in AbbVie by 0.9% in the 3rd quarter. Silverlake Wealth Management LLC now owns 9,878 shares of the company’s stock worth $1,951,000 after acquiring an additional 86 shares during the period. Guinness Asset Management LTD raised its holdings in AbbVie by 4.6% in the 3rd quarter. Guinness Asset Management LTD now owns 1,159,779 shares of the company’s stock valued at $228,910,000 after acquiring an additional 50,735 shares during the last quarter. Finally, Next Level Private LLC lifted its stake in shares of AbbVie by 14.8% during the 3rd quarter. Next Level Private LLC now owns 2,708 shares of the company’s stock worth $535,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, 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 transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price objective on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. UBS Group lifted their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $198.00.

AbbVie Stock Performance

AbbVie stock opened at $194.19 on Friday. The firm has a market capitalization of $342.91 billion, a PE ratio of 57.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The stock’s 50 day moving average price is $194.08 and its 200 day moving average price is $177.39. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last posted its 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. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.91 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

AbbVie Company 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.