Mcdaniel Terry & Co. Has $2.87 Million Stake in AbbVie Inc. (NYSE:ABBV)

Mcdaniel Terry & Co. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,507 shares of the company’s stock after selling 63 shares during the period. Mcdaniel Terry & Co.’s holdings in AbbVie were worth $2,865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at $27,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at $39,000. Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at $37,000. Finally, Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Truist Financial lifted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.47.

AbbVie Trading Up 1.0 %

Shares of AbbVie stock opened at $189.68 on Friday. The stock has a fifty day simple moving average of $194.22 and a 200 day simple moving average of $178.08. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a market capitalization of $334.95 billion, a P/E ratio of 56.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.27%. AbbVie’s payout ratio is 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.