Lecap Asset Management Ltd. Buys Shares of 6,008 AbbVie Inc. (NYSE:ABBV)

Lecap Asset Management Ltd. bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,008 shares of the company’s stock, valued at approximately $1,186,000.

Other large investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at approximately $27,000. Quest Partners LLC raised its position 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 acquiring an additional 207 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $37,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of analyst reports. Wells Fargo & Company increased 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. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets increased their target price on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

AbbVie Price Performance

NYSE:ABBV opened at $187.87 on Thursday. AbbVie Inc. has a 1-year low of $135.85 and a 1-year 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 fifty day simple moving average of $194.22 and a 200 day simple moving average of $178.08. The stock has a market capitalization of $331.75 billion, a PE ratio of 55.75, a P/E/G ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating 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 analysts’ expectations of $14.02 billion. During the same period last year, the business earned $2.91 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is 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.