AbbVie Inc. (NYSE:ABBV) Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,542 shares of the company’s stock after selling 532 shares during the quarter. Cox Capital Mgt LLC’s holdings in AbbVie were worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie during the 4th quarter worth $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $33,000. IFS Advisors LLC acquired a new position in AbbVie during the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the fourth quarter worth $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.9 %

NYSE ABBV opened at $170.57 on Friday. The company has a 50-day moving average of $163.89 and a 200-day moving average of $166.64. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a market cap of $301.20 billion, a P/E ratio of 50.61, a P/E/G ratio of 2.19 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm posted $2.46 earnings per share. AbbVie’s revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.63%. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Wednesday, June 5th. Finally, BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

About AbbVie

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.