Wynn Capital LLC Sells 204 Shares of AbbVie Inc. (NYSE:ABBV)

Wynn Capital LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,220 shares of the company’s stock after selling 204 shares during the quarter. Wynn Capital LLC’s holdings in AbbVie were worth $1,497,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after acquiring an additional 1,450,089 shares during the period. Capital International Investors boosted its position in shares of AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after purchasing an additional 2,542,463 shares in the last quarter. Morgan Stanley grew its stake in shares of AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares during the period. Charles Schwab Investment Management Inc. increased its position in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter worth approximately $3,229,888,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of AbbVie stock opened at $170.39 on Friday. The firm has a market capitalization of $300.89 billion, a P/E ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. 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 business’s fifty day simple moving average is $163.89 and its 200 day simple moving average is $166.79. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 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 analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. As a group, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock 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 price objective for the company in a report on Wednesday, June 5th. Piper Sandler raised their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Finally, 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. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie 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.