Allen Mooney & Barnes Investment Advisors LLC Sells 1,181 Shares of AbbVie Inc. (NYSE:ABBV)

Allen Mooney & Barnes Investment Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,767 shares of the company’s stock after selling 1,181 shares during the period. AbbVie makes up approximately 2.8% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 8th biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in AbbVie were worth $14,535,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kaydan Wealth Management Inc. bought a new stake in AbbVie during the 1st quarter worth approximately $207,000. Capital Planning LLC increased its stake in AbbVie by 18.1% during the 1st quarter. Capital Planning LLC now owns 6,084 shares of the company’s stock worth $1,108,000 after purchasing an additional 934 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in AbbVie by 0.7% during the 1st quarter. Harbor Investment Advisory LLC now owns 20,783 shares of the company’s stock worth $3,785,000 after purchasing an additional 141 shares in the last quarter. Financial Synergies Wealth Advisors Inc. increased its stake in AbbVie by 177.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 386 shares of the company’s stock worth $70,000 after purchasing an additional 247 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in AbbVie during the 1st quarter worth approximately $159,049,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday, June 20th. Piper Sandler increased their target price on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays decreased their price target 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. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.64.

AbbVie Price Performance

NYSE:ABBV opened at $172.75 on Tuesday. 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 fifty day simple moving average of $164.11 and a 200 day simple moving average of $167.11. The stock has a market capitalization of $305.05 billion, a PE ratio of 51.26, a P/E/G ratio of 2.18 and a beta of 0.60.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share 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 analysts’ expectations of $11.93 billion. During the same period last year, the business earned $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal 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 issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is 183.98%.

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.