One Plus One Wealth Management LLC Decreases Stake in AbbVie Inc. (NYSE:ABBV)

One Plus One Wealth Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,781 shares of the company’s stock after selling 500 shares during the period. One Plus One Wealth Management LLC’s holdings in AbbVie were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ABBV. American National Bank increased its holdings in AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after buying an additional 2,695 shares during the last quarter. AXS Investments LLC grew its position in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after acquiring an additional 307 shares during the period. TCI Wealth Advisors Inc. increased its stake in shares of AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after purchasing an additional 165 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of AbbVie by 33.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after purchasing an additional 7,737 shares during the period. Finally, Retirement Planning Co of New England Inc. lifted its stake in AbbVie by 21.3% in the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after purchasing an additional 4,633 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

AbbVie stock opened at $170.57 on Friday. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $301.20 billion, a PE ratio of 50.61, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The firm’s 50 day simple moving average is $163.89 and its 200 day simple moving average is $166.64.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Ratings Changes

A number of analysts have issued reports on ABBV shares. Piper Sandler raised their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Finally, Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.