AbbVie Inc. (NYSE:ABBV) Shares Sold by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,675 shares of the company’s stock after selling 400 shares during the quarter. AbbVie makes up 0.3% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 18th largest holding. Armstrong Henry H Associates Inc.’s holdings in AbbVie were worth $3,401,000 as of its most recent SEC filing.

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

AbbVie Trading Down 0.0 %

NYSE ABBV opened at $170.38 on Monday. The firm has a 50 day simple moving average of $163.89 and a 200-day simple moving average of $166.93. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market cap of $300.87 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.20 and a beta of 0.60.

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

AbbVie Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABBV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday. Piper Sandler increased their target price 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. 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. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays reduced their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.