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

Evanson Asset Management LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 4.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,701 shares of the company’s stock after selling 167 shares during the quarter. Evanson Asset Management LLC’s holdings in AbbVie were worth $674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PGIM Custom Harvest LLC lifted its stake in AbbVie by 4.5% in the third quarter. PGIM Custom Harvest LLC now owns 3,311 shares of the company’s stock valued at $494,000 after buying an additional 142 shares during the last quarter. Operose Advisors LLC lifted its stake in AbbVie by 52.6% in the third quarter. Operose Advisors LLC now owns 2,420 shares of the company’s stock valued at $361,000 after buying an additional 834 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in AbbVie by 30.5% in the third quarter. O Shaughnessy Asset Management LLC now owns 132,921 shares of the company’s stock valued at $19,813,000 after buying an additional 31,093 shares during the last quarter. Mendel Money Management lifted its stake in AbbVie by 5.4% in the third quarter. Mendel Money Management now owns 9,212 shares of the company’s stock valued at $1,373,000 after buying an additional 470 shares during the last quarter. Finally, Milestone Asset Management LLC raised its stake in shares of AbbVie by 7.6% during the third quarter. Milestone Asset Management LLC now owns 1,680 shares of the company’s stock worth $249,000 after purchasing an additional 118 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 1.2 %

AbbVie stock opened at $170.75 on Wednesday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market capitalization of $301.52 billion, a price-to-earnings ratio of 50.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock’s fifty day moving average is $164.27 and its two-hundred day moving average is $167.26.

AbbVie (NYSE:ABBV) last posted 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. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. Analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABBV shares. Piper Sandler upped their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. HSBC upgraded 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. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. Finally, BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Two research 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 company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average 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.