AbbVie Inc. (NYSE:ABBV) Shares Sold by Grandview Asset Management LLC

Grandview Asset Management LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,550 shares of the company’s stock after selling 300 shares during the period. AbbVie makes up about 1.5% of Grandview Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Grandview Asset Management LLC’s holdings in AbbVie were worth $3,378,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie during the 4th quarter worth about $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie during the fourth quarter valued at approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie in the 4th quarter valued at approximately $42,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $170.57 on Friday. The firm has a market capitalization of $301.20 billion, a price-to-earnings ratio of 50.61, a PEG ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The business has a fifty day simple moving average of $163.89 and a 200 day simple moving average of $166.64. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

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

AbbVie Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.63%. AbbVie’s dividend payout ratio is 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Finally, Piper Sandler upped their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Two 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. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

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.